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Monday, January 27, 2020

Jefferies Llc News

Photo: Euronav NV

International Seaways Completes Acquisition of Six Euronav VLCCs

US-based tanker shipping company International Seaways (INSW) has completed the acquisition of six 300,000 dwt very large crude carriers (VLCCs) from Euronav NV. The tanker company providing energy transportation services for crude oil, petroleum products and liquefied natural gas announced in a press release that it has completed its previously announced acquisition of six 300,000 DWT VLCCs for a purchase price of $434 million, inclusive of assumed debt, from Euronav. The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC…

Poseidon Containers Launches IPO

Poseidon Containers Holdings Corp. announced today the commencement of its initial public offering (IPO) of 15,380,000 common shares. The company said it will grant the underwriters a 30-day option to purchase up to 2,307,000 additional common shares. The estimated price range for the offering is $14 to $16 per common share. The company expects to use the net proceeds of the offering to fund a portion of the contracted purchase price of four containerships that it has agreed to…


Star Bulk's PO to Finance New Builds

Star Bulk Carriers Corp. announced today that it plans to make an underwritten public offering of its common stock. The Company intends to use the net proceeds from the offering for its new building program and general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC will act as joint book-running managers for the offering. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. The offering is subject to market conditions…

Samson Energy to Sell $1 bln Gulf of Mexico Assets

Oil and gas explorer and producer Samson Energy Company LLC is selling its offshore Gulf of Mexico assets that could fetch more than $1 billion, according to people familiar with the situation. The Tulsa, Oklahoma-based company has tapped Jefferies LLC, the New York-based investment bank, to assist with the sale effort, these people said, asking not be named because the talks are private. A representative for privately-held Samson confirmed Jefferies was working on a sale process for the portfolio of wells and leases, but declined to provide further details.

Photo: Scorpio Bulkers

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering. The size of the offering has been further increased from the previously announced size of $60 million in aggregate principal amount of notes to $65 million in aggregate principal amount of Notes. The notes will mature on September 15, 2019 and may be redeemed in whole or in part at any time or from time to time after September 15, 2016.

Ince & Co Advises ZIM’s $3b Restructuring

Ince & Co’s London and Hamburg business and finance teams worked with global investment banking firm Jefferies LLC in advising a group of major shipowners with vessels on long-term charter to Israeli box line ZIM on its $3 billion restructuring. The restructuring completed on July 16 when Israel corporation injected $200 million to acquire 32% of the equity of the newly restructured company. The restructuring also includes the write-off of $1.4 billion of debt part of which has been converted into 68% of the equity, now owned by former creditors.

BSS Force (Image: Stalwart Tankers)

Stalwart Tankers Postpones U.S. IPO

Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to "market conditions," an underwriter told Reuters. The company filed with U.S. regulators in February to raise up to $100 million in an IPO of its common stock. Stalwart Tankers later said it expected to price its IPO of 12.5 million common shares at between $11 and $13 per share. The decision to postpone the IPO comes on the heels of Greece returning to the bond market on Thursday…