Capital product partners l.p. announces the acquisition of three latest generation lng carriers

Athens, greece, aug. 31, 2021 (globe newswire) -- capital product partners l.p. (the “partnership,” “cplp” or “we” / “us”) (nasdaq: cplp), an international owner of ocean-going vessels, today announced that it has agreed to acquire three 174,000 cubic meter (“cbm”) latest generation x-df lng carriers from cgc operating corp. (the “seller”), for total consideration of $599.5 million comprised of (i) $147.1 million of cash on hand, (ii) the assumption of the $427.4 million of secured debt, (iii) the issuance of $15.0 million of new common units of cplp at a premium to the current trading unit price and (iv) $10.0 million of unsecured, interest free seller financing. the three vessels are the lng/c aristos i built in 2020, and the lng/c aristarchos and the lng/c aristidis i built in 2021, all three constructed at hyundai heavy industries co., ltd (“hyundai”). the lng/c aristos i and the lng/c aristarchos are expected to be delivered to the partnership by september 15, while the lng/c aristidis i is expected to be delivered by the end of november 2021.
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