Safe Bulkers Inc. Announces Pricing of €100 Million Unsecured Bonds
February 11 2022 - 12:45PM
Safe Bulkers Inc. (the “Company”) (NYSE: SB) announced
today that its wholly owned subsidiary, Safe Bulkers
Participations Plc, has successfully priced its previously
announced offering of €100 million of unsecured bonds (the “Bonds”)
to be listed on the Athens Exchange (“ATHEX”). The Bonds have a
coupon of 2.95% payable semi-annually. The Bonds are guaranteed by
the Company and will mature in 2027. The trading of the Bonds on
the ATHEX is expected to commence on February 14, 2022 under the
ticker symbol SBB1.
The net proceeds of the offering are intended to
be used for the acquisition of vessels, redemption of preferred
shares, repayment of debt and/or general corporate purposes.
Dr. Loukas Barmparis, President of the Company
commented: “We are pleased to announce the closing of the first
pure dry bulk company shipping bond on the Athens Exchange, which
effectively diversifies further the Company’s capital resources.”
The Bonds have not been registered under the
Securities Act or the securities laws of any U.S. state or other
jurisdiction 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. In addition, this announcement is not intended as and
shall not constitute a public offer or advertisement of securities
in Greece or an invitation to make offers to purchase any
securities in any EEA Member State within the meaning of Art. 2(d)
or 2(k) of the Prospectus Regulation respectively.
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
BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 2 111 888 400Fax: +30
2 111 878 500E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:Nicolas
Bornozis, President Capital Link, Inc.230 Park Avenue, Suite 1536
New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail:
safebulkers@capitallink.com
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