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MPC Container Ships raises another $100m for fleet expansion

MPC Container Ships raises another $100m for fleet expansion

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MPC Container Ships has raised $100m after completing the issuance of a new senior secured bond, which the company said was oversubscribed.

The funds raised from the bond issue are to be used to finance further acquisitions for the fast growing owner, which has built up a significant fleet in under six months.

Last month, MPC took its fleet to 20 vessels with the acquisition of five 1,300 teu vessels and a 2,700 teu vessel for $57m. The deal left MPC with around $35m from two private placements which raised $175m for fleet additions earlier in the year.

MPC Container Ships was set up by Germany’s MPC Capital in April, listing in Oslo, with a focus to own and operate a portfolio of feeder container ships between 1,000 and 3,000 teu.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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