NEWS

Container Ship at Sea

WFW advises Capital Product Partners on US$120 million unit issue

20 August 2013

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised international shipping company Capital Product Partners L.P. (“CPLP”) as Marshall Islands counsel on its issuance of $120 million in units to help finance the acquisitions of three container vessels.

With an existing fleet of 27 vessels, CPLP expects to use the net proceeds towards the purchase of three 5,023 TEU container vessels – the CCNI ANGOL, the HYUNDAI PRIVILEGE and the HYUNDAI PLATINUM from its sponsor Capital Maritime & Trading Corp.

The three acquisitions, estimated to cost approximately $195 million, are expected to be completed in September 2013.

The joint bookrunning managers were UBS Investment Bank, Bank of America Merrill Lynch and Wells Fargo Securities.

The senior co-managers were Barclays, Deutsche Bank Securities, Raymond James and RBC Capital Markets, and the co-manager was Evercore Partners.

Partner and head of the New York office Dan Rodgers led the WFW team and was supported by Steve Hollander, counsel to the firm.