The German vessel owner has secured a $10 million bond with a five-year lifespan in order to acquire additional container ships, the company said in a statement.
MPC Container Ships Invest B.V., a wholly owned subsidiary of Germany-based MPC Container
Ships AS, announced the completion of the issuance of a new senior secured
bond of $100 million last week.
According to the company, the bond issue has a 5 year
lifespan and carries a floating interest rate of $3 million LIBOR (London Interbank Offered Rate) plus 4.75 percent, with a borrowing
limit of $200 million, the company said.
The bond, managed by DNB Markets and Fearnley Securities, received “strong demand and was
oversubscribed,” according to the company.
The net proceeds from the bond issue will be used to purchase additional container vessels and for general corporate
purposes.
MPC Container Ships currently owns 20 containerships and continues to expand its fleet at a rapid pace.