So CPLP is a Greek shipping company that used to be structured as a drop down MLP, but is now just a drop-down C Corp with Capital Maritime being the General Partner.
For context, capital maritime is a family run business owned largely by evangelos malinakis who is one of Greece’s richest men and is a celebrity there.
I have been doing research on them, but I just have a specific question regarding two 100M and 150M EUR bond issues in the last year and a half on the Athenian exchange.
The bonds were oversubscribed significantly with it being 3.5x and 5.5x oversubscribed, respectively.
Is this amount of oversubscribing common or was it largely because Greek investors feel that anything backed by evangelos malinakis has very good credibility?
I am wondering because they have a large amount of debt they may need to be refinanced one day through RCF creations, Term loans, or possibly bond issues.
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