Capital Product announces successful delivery of LNG Carrier ‘Axios II’

Capital Product Partners announced that it successfully took delivery of the LNG Carrier ‘Axios II’. Pursuant to the agreement to acquire 11 LNG/Cs provided under the Umbrella Agreement entered into on November 13, 2023, the Partnership took delivery on January 2, 2024 of LNG/C Axios II. The vessel commenced a one-year time charter at a market-linked rate, which will be followed by a seven-year bareboat charter with Bonny Gas Transport Limited, who maintain an option to extend by an additional three years. The vessel acquisition was financed with cash from the balance sheet, a new senior secured loan facility led by ING Bank N.V. for an amount of $190.0 million payable in 28 equal quarterly instalments of $2.5 million, in addition to a balloon payment of $120.0 million payable together with the final quarterly instalment in December 2030, and the deferral of $92.6 million of the purchase price, in accordance with the seller’s credit agreement included in the Umbrella Agreement, maturing on June 30, 2027.