Seanergy Maritime Prices €100 Million Bonds with 4.90% Coupon for Fleet Expansion
SHIP•Seanergy Maritime priced a €100 million unsecured bond on Euronext Athens with a 4.90% annual coupon maturing in July 2031, settling on July 10 and trading from July 13. Net proceeds will fund newbuilding and second-hand vessel acquisitions and corporate working capital, with offering expenses near €4.4 million.
1. Bond Offering Details
Seanergy Maritime has issued €100 million of unsecured bonds on the Fixed Income Securities Segment of Euronext Athens. The bonds were issued at par, carry a 4.90% annual coupon payable semi-annually, mature in July 2031, settle on July 10 and commence trading on July 13.
2. Use of Proceeds
The net funds will support part of the cost for newbuilding vessels and second-hand vessel acquisitions, while also bolstering corporate working capital. Total offering expenses are estimated at approximately €4.4 million.
3. Fleet Growth and Capital Structure
This non-dilutive financing diversifies Seanergy Maritime’s capital structure and underpins its fleet growth strategy. Upon completion of planned vessel deliveries and the sale of M/V Dukeship, the company’s fleet count is expected to rise from 19 to 24 vessels with an aggregate capacity of about 4.4 million dwt.
