UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
____________________
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15-d16
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT: SEPTEMBER 24, 2007
Commission
File Number 001-33373
____________________
CAPITAL
PRODUCT PARTNERS L.P.
(Translation
of registrant’s name into English)
____________________
3
IASSONOS STREET
PIRAEUS,
18537 GREECE
(address
of principal executive offices)
____________________
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F
x Form
40-F o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Yes o No
x
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Yes o No
x
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No
x
If
“yes”
is marked, indicate below this file number assigned to the registrant in
connection with Rule 12g3-2(b): N/A
Item
1 – Information Contained in this Form 6-K Report
Attached
as Exhibit I is a copy of a press release of Capital Product Partners L.P.,
dated September 24, 2007.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
CAPITAL
PRODUCT PARTNERS L.P.,
|
|
|
By:
|
Capital
GP L.L.C., its general partner
|
| /s/ Ioannis E. Lazaridis | |
|
Name: Ioannis
E. Lazaridis
|
|
|
Title:
Chief Executive Officer and Chief Financial Officer
of
Capital GP L.L.C.
|
|
Dated: September
24, 2007
Exhibit
I
CAPITAL
PRODUCT PARTNERS L.P. COMPLETES ACQUISITION OF PRODUCT TANKER M/T
ATTIKOS
ATHENS,
Greece,
September 24, 2007 -- Capital Product Partners L.P. (Nasdaq: CPLP)
announced
today that it has completed the acquisition of the 12,000 dwt
double-hull product tanker M/T Attikos, built in 2005, for an aggregate
purchase
price of $23 million from Capital Maritime & Trading Corp., the owner of its
general partner. M/T Attikos is chartered to Trafigura Beheer B.V., a
large commodities trader based in The Netherlands, with a remaining
charter term
of approximately 24 to 26 months at a gross rate of $13,850 per day
(net rate $13,503). The vessel's operating expenses are fixed for the
next 5
years at a daily rate of $5,500, which includes the special survey/dry
docking
of the vessel due in 2010. Capital Product Partners expects the
annual contribution associated with the acquisition of M/T Attikos
to the
distributable cash flow to be approximately 4 cents per unit. The acquisition
was funded by borrowing $20.5 million under the Partnership's existing
revolving
credit facility and the remaining $2.5 million were contributed from
available
cash. The debt has been fixed at an interest rate of 5.675% until June
2012. The transaction has been approved by the board of directors of
the Partnership following approval by the conflicts committee of independent
directors.
“We
are pleased
that the Partnership has completed its first accretive acquisition
6 months
after its initial public offering,” said Ioannis Lazaridis, Chief Executive
Officer and Chief Financial Officer of Capital Product Partners’ general
partner. “As previously stated, we are excited about the acquisition of M/T
Attikos as it establishes the Partnership’s presence in the ’small product
tanker’ segment, which we believe to be well supported by favorable industry
fundamentals. The Partnership is well positioned to grow further in
this
segment, as Capital Maritime & Trading Corp. currently owns an additional 18
small product tankers, one of which is already in the water and 17
are under
construction and expected to be delivered from 2008 to 2010.” Capital Maritime
recently contracted six IMO II 25,000 dwt chemical/product tankers
at Samho
Shipyard Co. Ltd in Korea for delivery in 2010.
Vessel
and
Charter Details
|
Name
|
Deadweight
|
Built
|
Charterer
|
Net
Daily Charter Rate
|
OPEX
|
Profit
Sharing
|
Earliest
Redelivery under Charter
|
Latest
Redelivery under Charter
|
|
M/T
Attikos
|
12,000
MT
|
Baima
Shipyard, China
|
Trafigura
Beheer B.V.
|
$13,503
|
$
5,500 per day fixed for 5 years
|
No
|
9/12/2009
|
11/12/2009
|
About
Capital
Product Partners L.P.
Capital
Product
Partners L.P. (Nasdaq: CPLP), a Marshall Islands master limited partnership,
is
an international owner of medium-range product tankers. Following the
acquisition of the M/T Attikos and the delivery of the Ice Class 1A
MR tanker
“Anemos I” on September 28, 2007, Capital Product Partners L.P. will own
thirteen product tankers including twelve Ice Class 1A MR tankers,
and has an
agreement to purchase three additional product tankers from Capital
Maritime
& Trading Corp. All sixteen vessels are under medium to long-term charters
to BP Shipping Limited, Morgan Stanley, Overseas Shipholding Group
and Trafigura
Beheer B.V.
CPLP-G
Forward-Looking
Statements
The
statements in
this press release that are not historical facts may be forward-looking
statements (as such term is defined in Section 21E of the Securities
Exchange
Act of 1934, as amended). These forward-looking statements involve
risks and
uncertainties that could cause the outcome to be materially different.
Capital
Product Partners L.P. expressly disclaims any obligation to update
or revise any
of these forward-looking statements, whether because of future events,
new
information, a change in our views or expectations, or otherwise. We
make no
prediction or statement about the performance of our common units.
Contacts:
Robert
Ferris
RF|Binder
Partners
Inc.
+1
(212) 994-7505
Robert.ferris@rfbinder.com
Ioannis
Lazaridis
Chief
Executive
Officer and Chief Financial Officer
Capital
GP
L.L.C.
+30
(210) 4584
950
i.lazaridis@capitalpplp.com
Jerry
Kalogiratos
Commercial
Officer
Capital
Maritime
& Trading Corp.
+30
(210) 4584
950
j.kalogiratos@capitalmaritime.com