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Britannia Bulk Holdings Inc

Britannia Bulk Holdings Launches IPO

    London (ots/PRNewswire) - Britannia Bulk Holdings Inc (the "Company") announced today that it is commencing an initial public offering of 8,333,333 shares of its common stock at a proposed initial public offering price of $17.00 to $19.00 per share. One of the Company's directors of chartering and the entities through which the other director of chartering and the chief executive officer hold their interests in the Company's shares have granted the underwriters the right to purchase up to 1,250,000 shares of common stock in the aggregate at the initial public offering price, less underwriting discounts, to cover over-allotments, if any. The underwriters may exercise this right for up to 30 days. The Company has applied to list its common stock on The New York Stock Exchange under the symbol "DWT."

    The Company intends to use net proceeds from this offering, together with amounts held in its vessel acquisition account and borrowings under its new secured term loan facility, for the repayment of its existing senior secured notes and secured bridge facilities and for general corporate purposes.

    Goldman, Sachs & Co. and Banc of America Securities LLC are acting as joint book-runners for the offering. Dahlman Rose & Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers for the offering.

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

    This press release is neither an offer to sell nor a solicitation of an offer to buy shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004, Fax: (212) 902-9316 or email at prospectus-ny@ny.email.gs.com or Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by email to dg.prospectus_distribution@bofasecurities.com or by mail to Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001.

    ABOUT BRITANNIA BULK HOLDINGS INC

    Britannia Bulk Holdings Inc is an international provider of drybulk shipping and maritime logistics services with a focus on transporting drybulk commodities in and out of the Baltic region.

    This press release contains certain forward-looking statements about the Company's proposed initial public offering of its common stock. Forward-looking statements include statements regarding the market for the common stock and anticipated future results and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the offering and concurrent transactions, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company.

ots Originaltext: Britannia Bulk Holdings Inc
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
Company Contact: Fariyal Khanbabi, Chief Financial Officer,
+44-(0)20-7264-4900



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