Safe Bulkers Inc. Announces Offering of Unsecured Bonds on the Athens Stock Exchange
January 31 2022 - 2:10PM
Safe Bulkers Inc. (the “Company”) (NYSE: SB) announced today that
its wholly owned subsidiary, Safe Bulkers Participations Plc (the
“Issuer”), plans to launch a public offer in Greece of up to €100
million of unsecured bonds (the “Bonds”), which will be admitted to
trading in the category of fixed income securities of the Regulated
Market of the Athens Exchange (Greece).
The Company plans to use the net proceeds of the
offering received from the Issuer (up to €97.5 million) for the
repayment of debt and/or redemption of preferred shares and/or
working capital needs and/or acquisition of vessels and/or general
corporate purposes.
The Bonds will be offered only to non-U.S.
persons outside the United States pursuant to Regulation S under
the U.S. Securities Act of 1933, as amended (the “Securities Act”),
and in a private placement only to “qualified institutional buyers”
(as defined under the Securities Act) in the U.S. in a transaction
not requiring registration under the Securities Act, subject to
prevailing market and other conditions. There is no assurance that
the offering will be completed or, if completed, as to the terms on
which it is completed. The Bonds to be offered have not been
registered under the Securities Act or the securities laws of any
jurisdiction other than Greece and may not be offered or sold in
the United States absent registration or unless pursuant to an
applicable exemption from the registration requirements of the
Securities Act and any other applicable securities laws. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy the Bonds, nor shall it constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
This press release does not constitute a
prospectus for the purposes of the Prospectus Regulation (EU)
2017/1129 (as amended, together with any applicable implementing
measures in any Member State, the “Prospectus Regulation”). In any
EEA Member State that has implemented the Prospectus Regulation,
this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of
Article 2(d) of the Prospectus Regulation. Moreover, this press
release and the information contained herein are not intended and
shall not constitute a public offer within the meaning of Art. 2(d)
of the Prospectus Regulation, and Article 58 of Greek law 4706/2020
or advertisement of securities in Greece or an invitation to make
offers to purchase any securities in Greece within the meaning of
Article 2(k) of the Prospectus Regulation and Article 63 of Greek
law 4706/2020.
About Safe Bulkers Inc.
The Company is an international provider of
marine drybulk transportation services, transporting bulk cargoes,
particularly coal, grain and iron ore, along worldwide shipping
routes for some of the world’s largest users of marine drybulk
transportation services. The Company’s common stock, series C
preferred stock and series D preferred stock are listed on the
NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”,
respectively.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, the Company’s growth
strategy and measures to implement such strategy, including
expected vessel acquisitions and entering into further time
charters. Words such as “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates” and variations of such words
and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of the Company. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, changes in
the demand for drybulk vessels, competitive factors in the market
in which the Company operates, risks associated with operations
outside the United States and other factors listed from time to
time in the Company’s filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
For further information please
contact:
Company Contact: Dr. Loukas
Barmparis President Safe Bulkers, Inc. Tel.: +30 2 111 888 400 Fax:
+30 2 111 878 500 E-Mail: directors@safebulkers.com
Investor Relations / Media
Contact:
Nicolas Bornozis, President Capital Link, Inc. 230
Park Avenue, Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566
Fax: (212) 661-7526 E-Mail: safebulkers@capitallink.com
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