MPC Container Ships Invest B.V., a wholly owned subsidiary of Oslo-listed MPC Container Ships AS, has successfully completed the issuance of a new senior secured bond issue of USD 100 million.
The bond issue has a 5 year tenor, carries a floating interest rate of 3m LIBOR + 4.75% and has a borrowing limit of USD 200 million. The bond issue received strong demand and was oversubscribed.
The net proceeds from the bond issue will be used to finance acquisitions of additional container vessels and for general corporate purposes.
DNB Markets and Fearnley Securities acted as joint lead managers for the bond issue.
MPC has recently acquired six container vessels in a portfolio transaction from various owners. This brings the fleet of the Company to 20 vessels, whereof 14 are already operated by the Company. Takeover of the remaining vessels is expected to be completed by the end of September 2017.