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.