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Stock Market & Financial Investment News

News Breaks
January 30, 2013
08:34 EDTSHIPSeanergy Maritime unit sells interest in four subsidiaries
Seanergy Maritime Holdings announced that its wholly-owned subsidiary, Maritime Capital Shipping Limited, sold its 100% ownership interest in four subsidiaries. The four subsidiaries own the Handysize dry bulk carriers M/V Fiesta, M/V Pacific Fantasy, M/V Pacific Fighter and M/V Clipper Freeway. The buyer is a third-party nominee of the lenders under the senior secured credit facility with DVB Merchant Bank (Asia) Ltd., as agent. MCS had provided a guarantee under this facility. As of January 29, in exchange for the sale, approximately $30.3M of outstanding debt was discharged. In addition, the guarantee provided by MCS was fully released. In connection with the sale of the subsidiaries, the Company's Board of Directors obtained a fairness opinion from an independent third party. After giving effect to the transaction, the overall indebtedness of the Seanergy group of companies is reduced to approximately $177M.
News For SHIP From The Last 14 Days
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March 23, 2015
09:01 EDTSHIPSeanergy Marine announces delivery of Capesize vessel
Seanergy Maritime announced the delivery of the Capesize dry bulk vessel M/V Leadership of 171,199 dwt. The vessel was acquired from an unaffiliated third party and was built by Imabari-Koyo, Japan in 2001. As previously announced, the gross acquisition cost of the M/V Leadership was $17.3M. The acquisition cost has been funded by a senior secured loan agreement with a reputable financial institution and by the previously announced funding arrangement with one of the company's major shareholders.

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