Dynagas Plans Public Offering

Dynagas Partners has announced its plans to offer 4,800,000 common units representing limited partner interests in a public offering. The company will grant the underwriters a 30-day option to purchase up to an additional 720,000 common units.

The company intends to use the net proceeds from the public offering to fund a portion of the purchase price of its previously announced acquisition of the ownership interests in the company that owns the ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd.

Dynagas Partners intends to fund the balance of the purchase with a new $340 million senior secured revolving credit facility which Dynagas Partners plans to enter following the completion of this offering.

The new $340 million senior secured revolving credit facility will also be used to refinance $214.1 million currently outstanding under Dynagas Partners’ existing senior secured revolving credit facility.

In the event that the acquisition is not consummated, the net proceeds from this offering will be used for general partnership purposes.

 

June 12, 2014

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >