seperator boardlist separator aboutus home separator addtitle
logo logotitle
Sign in here!    

Vessels Shipyard Scrap Spareparts FreightExchange InvestorsSquare Directory
 
Hellenic Carriers AIM Float To Raise $60 Million Dated : 12-11-2007

Hellenic owns and operates a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. Its current fleet consists of four vessels, comprising three panamaxes and one handymax.
The Company has also contracted to acquire a supramax (a larger handymax vessel) which is scheduled for delivery between 1 March and Apr. 30, 2008. Including the new supramax vessel to be delivered, Hellenic Carriers' fleet has an aggregate carrying capacity of 298,761 dwt and a weighted average age of 12.9 years as at Nov. 1, 2007.
Jefferies International Limited has been appointed as nominated adviser, global coordinator and bookrunner.
NBG International will act as lead manager in relation to the Placing.
Admission is expected late November 2007.
The placing is expected to raise $60 million for the company, before expenses. The company expects to use $31 million of the net proceeds of the Placing for part payment of the supramax and for the remainder to be used for working capital purposes, to partially reduce existing indebtedness and, if the prevailing market conditions are favourable to do so, the funding of future vessel acquisitions.
Source: 11-12-07 4:12 AM EST Edited Press Release, http://news.morningstar.com/news/ViewNews.asp?article=/DJ/200711120412DOWJONESDJONLINE000068_univ.xml&Cat=Stks2Watch

 
I Register I Contact us I Terms and Conditions I Privacy policy I Shipping History I Maritime News I Ship Gallery I  Sitemap