Ultrapetrol Completes 100% of Mortgage Note Exchange

MarineLink.com
Thursday, January 30, 2014
Image courtesy of Ultrapetrol

Ultrapetrol announce the results of its offer to exchange all of its outstanding $25.0 million 8 7/8% First Preferred Ship Mortgage Notes due 2021 that were issued in a private placement on October 2, 2013 as follows:

The company informs that the notes were issued for an equal principal amount of 8 7/8% First Preferred Ship Mortgage Notes due 2021, that are registered under the Securities Act of 1933, as amended and expired on January 24, 2014 at 5 p.m.

Ultrapetrol add that as of the Expiration Time, holders of $25.0 million aggregate principal amount of the Notes have participated in the Exchange Offer, representing 100% percent of the Notes eligible for exchange.

They further explain that the purpose of the Exchange Offer was to satisfy certain obligations
under a registration rights agreement entered into by and among the Company and the initial purchasers of the outstanding notes.

About Ultrapetrol
Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on which it focuses. It serves the shipping markets for containers, grain and soya bean products, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels.

More information on Ultrapetrol can be found at www.ultrapetrol.net


 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

2 Americans Rescued North of Cuba

A Coast Guard MH-60 helicopter crew rescued two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, Friday. Watchstanders

Shell CEO Backs Fossil Fuels, Climate Change Warnings

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

Severe Flooding Cuts Off Lone Road to Alaska's Oilfield

Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river,

Workboats

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

Indonesia Sinks Boats from China

According to The China People's Daily, Indonesia has just sank a large Chinese vessel and 40 other foreign ships caught fishing in The South China Sea.    The

Laborde Repowers Much of Stone Oil Fleet

In January 2014, Laborde Products sold its first Mitsubishi engine to John W. Stone Oil for the vessel John W. Stone. Since then, Laborde has supplied the Gretna,

Finance

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

Tsakos Energy Navigation Reports 156% Increase in Q1 Profits

Greece-based Tsakos Energy Navigation Ltd (TEN) has reported first-quarter profit of $37.3 million from $14.6 million in Q1 2014 - a 156% Increase. On a per-share basis it has profit of 42 cents.

Egypt's $3 Bln LNG tender in June

Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports.   The country recently

Container Ships

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter.

18 Kalmar RT 240s for US DoD

Kalmar, part of Cargotec, has received an order to supply a further 18 rough terrain container handlers to the United States Department of Defense. Destined to replace older equipment,

Barges

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

HMC Helps Fine-tune Damen Offshore Carrier

Damen Shipyards has presented a new shipping concept to the market: the Damen Offshore Carrier (DOC) is specifically designed as a smaller heavy transport vessel suitable for offshore installations.

Barge Accident off Malaysia: 14 Lost

The Bolivian-registered Ocean Line 208 vessel, which was carrying sand, was hit by a huge wave at 4.20am today early morning and 14 people are feared to have drowned.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1724 sec (6 req/sec)