Capital Product Partners (CPLP) is looking to raise up to €100m ($100.3m) in Greece through unsecured bonds which will be admitted to trading on the Athens Exchange.
The Nasdaq-listed Greek owner said it intends to use the net proceeds of the offering for vessel acquisitions, debt repayment and working capital purposes.
The move is CPLP’s second time to tap the Greek bond market through its subsidiary CPLP Shipping Holdings, which in October last year raised €150m to help finance the purchase of three LNG carriers.
CPLP currently owns 20 vessels, including six latest generation LNG carriers, 14 boxships and one capesize bulker.
The company in June announced the acquisition of three 13,278 teu containerships and one 174,000 cu m LNG carrier for a combined $597.5m and due for delivery between October 2022 and May 2023. It expects to finance the deal with around $122m of cash, $468m of debt, and $7.5m in common units.