In Hellenic Shipping News 13/05/2015
Star Bulk Carriers Corp. announced that it plans to make a public offering of $150.0 million of its common shares. The Company intends to use the net proceeds from the offering for its newbuilding program and general corporate purposes (including additions to working capital, capital expenditures, repayment of debt or the financing of possible acquisitions and investments).
Oaktree Capital Management, L.P. (“Oaktree”), Monarch Alternative Capital, LP (“Monarch”) and entities affiliated with the family of Mr. Petros Pappas, our Chief Executive Officer (the “Pappas Affiliates”), which are three of Star Bulk’s significant shareholders, have expressed an interest in purchasing a substantial amount of common shares in this offering. While Oaktree, Monarch and the Pappas Affiliates have expressed interest in purchasing common shares in the offering, there can be no assurance that any of them will actually participate in the offering.
Clarksons Platou Securities and DVB Capital Markets will act as book-running managers for the offering. ABN AMRO, BNP PARIBAS, Credit Agricole CIB and SEB will act as co-managers. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
