August is a seasonally weak month for deal-making and this year, in general, was no exception with just $635 million of deals recorded. The Norwegian bond market failed to take heed of this trend, however, allowing Navigator Holdings, Wallenius Wilhelmsen, Altera Shuttle Tankers, and Teekay LNG Partners to raise $514 million through four deals. For reference, its average proceeds were $119 per month over the past five years. Other deals in August included Avance Gas and Ciner Shipping which both announced Chinese leases worth a total of $171 million. Safe Bulkers launched an ATM offering to raise up to $23 million while Seanergy Maritime and Maxim Group completed yet another share offering, this time to raise $25 million. CIT Finance refinanced its existing facility with Valloeby Shipping. Unifeeder acquired three businesses focused on the feeder sector from Transworld Group. Hermitage Offshore filed a petition for Chapter 11 Bankruptcy protection in the Southern District of New York after unsuccessful talks with its creditors. Visit marinemoney.com/deal for insights into the latest deals.
View more information about each deal on our deal database:
Navigator Raises $100 Million with Norwegian Bond
Avance Gas Announces $45 Million Chinese Lease
Wallenius Wilhemsen Completes $227 Million Norwegian Bond Offering
Ciner Shipping and CSSC Enter $127 Million Lease
Altera Completes $75 Million Tap of Green Bonds
DNB and Nordea Lead Teekay LNG's $112 Million Norwegian Bond
Unifeeder Acquires Feeder Business from Transworld Group
Maxim and Seanergy Issue Another $25 Million of Shares
CIT Lends $28 Million to Valleoby Shipping
Hermitage Offshore Files for Chapter 11
Safe Bulkers Launches $23.5 Million ATM
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