5,023 TEU Container Vessels
Capital Product Partners has purchased three 5,023 TEU container vessels, namely the M/V CCNI Angol (earlier Hyundai Prestige), the M/V Hyundai Privilege and the M/V Hyundai Platinum from its sponsor Capital Maritime & Trading Corp. (Capital Maritime) for an aggregate purchase price of USD 195,000,000. The vessels were built in 2013 at Hyundai Heavy Industries and each vessel is employed under a 12-year charter employment to Hyundai Merchant Marine Company (HMM) at a gross rate of USD 29,350 per day. The charters commenced shortly after the delivery of the Vessels during the first half of 2013.
The acquisition was mainly funded from the partnership's new USD 200,000,000 senior secured credit facility with ING Bank N.V. and HSH Nordbank AG and from the net proceeds of its public offering of 13,685,000 common units, including the exercise of the overallotment option.
The partnership has also reached an agreement with Capital Maritime to extend the charters of M/T Alkiviadis (36,721 IMO II/III Chemical Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea) and M/T Agisilaos (36,760 IMO II/III Chemical Product Tanker built 2006 Hyundai Mipo Dockyard, South Korea). The earliest redelivery for each of the vessels under the charters is June 2014 and August 2014, respectively.