Capital Product Partners Secures USD 460 Mn Loan

Greek shipping company Capital Product Partners has entered into a firm offer letter for a new senior secured term loan facility worth USD 460 million.

The term load was signed with a syndicate of lenders led by HSH Nordbank and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece as arrangers.

Capital Product Partners informed that it has now formally entered into the loan agreement documenting the new facility.

The company said t would use the net proceeds of the loan, together with available cash, to refinance its indebtedness under its 2007, 2008, 2011 and 2013 credit facilities during the fourth quarter of 2017.

The partnership currently owns 36 vessels, including 21 MR product tankers, four Suezmax crude oil tankers, 10 Neo Panamax container vessels and one Capesize bulk carrier.

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