Watson Farley & Williams (“WFW”) acted as English law counsel to CPLP Shipping Holdings PLC (“CPLP Shipping”) on the issuance and public offering of a US$150m corporate bond on the Athens Stock Exchange, guaranteed by Capital Product Partners L.P. (“CPLP”).
This was the first bond issued by CPLP to be traded on the Athens Stock Exchange. WFW advised CPLP on all matters of English law principally arising under its facility and leasing agreements.
CPLP Shipping is a newly established subsidiary of CPLP, an international shipping company engaged in the seaborne transportation of natural gas, containerized goods and dry cargo. CPLP (NASDAQ: CPLP) is a Marshall Islands publicly traded limited partnership with a fleet of 18 vessels.
The WFW Athens Assets & Structured Finance team that advised CPLP was led by Partner and Global Maritime Sector Co-Head George Paleokrassas, supported by Associates Marilena Kossyfa and Ioanna Pantelaki.
Lead Partner George Paleokrassas commented: ‘‘We are delighted to have supported CPLP Shipping on this important and complex transaction. This is the second shipping bond issuance on which WFW has advised the issuer in Greece, testament to WFW’s world-leading reputation in the maritime sector’’.
Jerry Kalogiratos, CEO & Director at CPLP Shipping, said: ’’We are very pleased to have worked with WFW on our first shipping bond issuance in Greece, which further diversifies our sources of financing and allows us to execute on our business plan with an attractive overall cost of capital”.