Conyers advises Tsakos Energy Naviation on preferred share offering
Conyers Dill & Pearman has provided Bermuda legal advice to Tsakos Energy Navigation (TEN) on its public offering of up to $50m (£31m) of 8–7/8 per cent Series C cumulative redeemable perpetual preferred shares.
TEN — a Bermuda-incorporated product, crude and LNG tank operator — intends to list the preferred shares on the New York Stock Exchange.
UBS Investment Bank and Morgan Stanley acted as joint bookrunners for the offering. Jefferies acted as lead manager and Incapital and DNB Markets acted as co-managers for the offering.
Elizabeth Denman and Kathleen Moniz from Conyers’ Bermuda office advised on the matter.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
The court looked at the issue of whether a stranger to a trust, who dishonestly assists in a breach of trust, is a ‘trustee’ within the meaning of s21(1)(a) of the UK Limitation Act 1980.