Capital One Energy Carriers Secures €250M in Greek Bond Offering
Capital One Energy Carriers Corp. (CCEC) has launched a €250 million bond offering aimed at Greek investors. The funds will help the company repay existing debt, cover capital spending, and support daily operations.
The bonds, set to mature in 2033, will carry a fixed interest rate of 3.75% and trade on the Athens Exchange.
The newly issued bonds are unsecured and will not be registered under the U.S. Securities Act, meaning they are unavailable to U.S. investors. Instead, the offering targets Greek markets, with trading set to begin on the Athens Exchange.
CCEC plans to use the €250 million raised for several purposes. A portion will go toward repaying outstanding debt, while the rest will fund capital projects and working capital needs. The company estimates associated expenses for the issuance at around €7.5 million.
While the bonds have a long-term maturity date of 2033, the company has not specified how many of its planned new ships will be operational by the end of 2026. The 3.75% coupon rate reflects the current market conditions for corporate debt in the energy sector.
The bond proceeds will provide CCEC with financial flexibility for its expansion and operational costs. With trading set to commence on the Athens Exchange, the company gains access to additional capital while maintaining its focus on energy carrier projects. The 2033 maturity date gives the firm a long-term funding structure to support its growth plans.
