[200611.EN.SEA] Diana Containerships Holds Share Sale To Pay Maersk For Ships and Service Debt

ATHENS-based, NASDAQ-listed Diana Containerships says it will use money raised from its June 15 US$168 million share sale, and from a $20 million private placement, involving 2.67 million common shares to service a DnB NOR Bank loan and pay $70.5 million owed to Maersk for for three containerships.

Diana Shipping, traditionally a bulk carrier shipowner, started Diana Containerships, early this year and now operates five 3,426 - 4,714-TEU ships.

The sale, selling for $7.50 a share, is expected to close on June 15, reports Newark's Journal of Commerce. The underwriters have a 30-day option to buy up to an additional 2.13 million shares of common stock to cover over-allotments, if necessary.

Diana Containerships has set the price of its offering of 14.25 million shares of its common stock at $7.50 per share.

Wells Fargo Securities, Bank of America Merrill Lynch and Jefferies & Co are acting as joint-book runners.

Source : HKSG, 14.06.11.