Shipping company Costamare is issuing a five-year bond with a nominal value of 100 million euros, through a subsidiary.
Costamare Participations Plc , a newly established 100% subsidiary of Costamare Inc. ia launching the Public Offering of up to €100 million of unsecured bonds which will be admitted to trading in the category of fixed income securities of the Regulated Market of the Athens Exchange. The deadline for the Public Offering is May 21st and the outcome will be announced on May 25th.
The aim of the issue, by the subsidiary Costamare Participations Plc, is to issue up to one hundred thousand (100,000) intangible, common, anonymous bonds with a nominal value of 1,000 euros each, a total amount of up to 100 million euros, with a total duration of five (5 ) years, with the possibility of partial or early repayment in the 1st interest period of the 3rd year. The minimum registration fee is 1,000 euros.
The bond is issued with the guarantee of Costamare Inc., which today is the 3rd largest container ship owner in the world. The Costamare Group has a 47-year presence in global shipping and its fleet numbers eighty-two ships.
With a market capitalization of $ 1.29 billion on the New York Stock Exchange, Costamare Inc. closed in 2020 with total revenue of $ 460.3 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to $ 300.4 million. The company ‘s cash and cash equivalents at the end of last year amounted to $ 191.9 million
The Costamare Group’s investments since the beginning of this year amounted to $ 204.4 million and the ongoing investments for six ships yet to be inducted, as well as one under construction, are estimated at $ 241.1 million.