Aegean Marine Petroleum Network Inc. Announces Proposed Offering of $40.0 Million of Additional 4.00% Convertible Senior Notes due 2018

Jan 12, 2015, 16:16 ET from Aegean Marine Petroleum Network Inc.

PIRAEUS, Greece, Jan. 12, 2015 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) (the "Company") announced today that it intends to offer $40.0 million aggregate principal amount of additional 4.00% Convertible Senior Notes due 2018 (the "new notes") in a registered public offering.  The new notes are expected to have the same terms as, be fungible with, and form a single series with, $86.25 million aggregate principal amount of the Company's 4.00% Convertible Senior Notes due 2018 that were issued in October 2013 (the "existing notes", and together with the new notes, the "notes"), all of which remain outstanding. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional $6.0 million in aggregate principal amount of the 4.00% Convertible Senior Notes due 2018.  Upon conversion, noteholders will receive, at the Company's option, shares of the Company's common stock, cash or a combination of shares and cash. The Company expects to use the net proceeds from the sale of the new notes for working capital required to fund its expansion into existing and new markets. Jefferies LLC is acting as sole book-running manager for the offering.

The offering may be made only by means of a prospectus supplement and accompanying base prospectus.  When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Jefferies LLC (Attn: Equity Syndicate Prospectus Department), 520 Madison Avenue, 2nd Floor, New York, New York 10022, Phone: 1-877-547-6340, Email: Prospectus_Department@Jefferies.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the new notes was filed with the U.S. Securities and Exchange Commission (the "SEC") and is effective. 

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning the completion, timing and size of the proposed offering and other statements that are other than statements of historical facts. These statements involve significant risks and uncertainties. Because these statements reflect our current expectations concerning future events, our actual events could differ materially from those anticipated in these forward-looking statements as a result of many factors. These factors include, but are not limited to: the risk that the offering may be delayed or may not occur due to market or other conditions and the satisfaction of customary closing conditions related to the proposed public offering. Additional information concerning these and other factors that may cause actual events to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's most recent Annual Report on Form 20-F, in our other periodic reports and filings with the SEC and in the prospectus supplement related to the offering. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

Investor Relations: 212-430-1098

SOURCE Aegean Marine Petroleum Network Inc.



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