Capital Product Partners L.P. Announces the Successful Delivery of the LNG Carrier ‘Axios II’
January 04 2024 - 9:00AM
Capital Product Partners L.P. (NASDAQ: CPLP), an international
owner of ocean-going vessels, today announced that it successfully
took delivery of the LNG Carrier (“LNG/C”) ‘Axios II’.
Pursuant to the agreement to acquire 11 LNG/Cs
provided under the Umbrella Agreement entered into on November 13,
2023 (the “Umbrella Agreement”), the Partnership took delivery on
January 2, 2024 of LNG/C Axios II (174,000 cbm, latest generation,
two stroke MEGA LNG/C, built at Hyundai Heavy Industries Co., Ltd).
The vessel commenced a one-year time charter at a market-linked
rate, which will be followed by a seven-year bareboat charter with
Bonny Gas Transport Limited, who maintain an option to extend by an
additional three years.
The vessel acquisition was financed with cash
from the balance sheet, a new senior secured loan facility led by
ING Bank N.V. for an amount of $190.0 million payable in 28 equal
quarterly instalments of $2.5 million, in addition to a balloon
payment of $120.0 million payable together with the final quarterly
instalment in December 2030, and the deferral of $92.6 million of
the purchase price, in accordance with the seller’s credit
agreement included in the Umbrella Agreement, maturing on June 30,
2027.
Axios II is the ninth latest generation LNG/C of
the Partnership and the second vessel delivery of the fleet
acquired under the Umbrella Agreement. The remaining nine vessels
are expected to be delivered between the second quarter of 2024 and
the first quarter of 2027.
About Capital Product Partners
L.P.Capital Product Partners L.P. (NASDAQ: CPLP), a
Marshall Islands master limited partnership, is an international
owner of ocean-going vessels. CPLP currently owns 24 high
specification vessels, including nine latest generation LNG/Cs, 12
Neo-Panamax container vessels and three Panamax container vessels.
In addition, CPLP has agreed to acquire an additional nine latest
generation LNG/Cs to be delivered between the second quarter of
2024 and the first quarter of 2027.
For more information about the Partnership,
please visit: www.capitalpplp.com.
Forward-Looking Statements The
statements in this press release that are not historical facts may
be forward-looking statements (as such term is defined in Section
21E of the Securities Exchange Act of 1934, as amended). These
forward-looking statements involve risks and uncertainties that
could cause the stated or forecasted results to be materially
different from those anticipated. Unless required by law, we
expressly disclaim any obligation to update or revise any of these
forward-looking statements, whether because of future events, new
information, a change in our views or expectations, to conform them
to actual results or otherwise. We assume no responsibility for the
accuracy and completeness of the forward-looking statements. We
make no prediction or statement about the performance of our common
units.
CPLP-F
Contact Details:
Capital GP L.L.C.Jerry
KalogiratosCEOTel. +30 (210) 4584 950 E-mail:
j.kalogiratos@capitalpplp.com
Capital GP L.L.C.Nikos
KalapotharakosCFOTel. +30 (210) 4584 950 E-mail:
n.kalapotharakos@capitalmaritime.com
Investor Relations /
MediaNicolas BornozisCapital Link, Inc. (New York)Tel.
+1-212-661-7566E-mail: cplp@capitallink.comSource: Capital Product
Partners L.P.
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