Tsakos Energy Navigation’s $112 Million Offering of Fixed?to?Floating Rate Preferred Shares


Cravath represented the underwriters, led by Morgan Stanley, UBS Investment Bank, J.P. Morgan Securities, Stifel and Citigroup, in connection with the US$115 million offering of series E fixed?to?floating rate preferred shares of Tsakos Energy Navigation, a leading provider of international seaborne crude oil and petroleum production transportation services.

The shares were listed on the New York Stock Exchange. The transaction closed on April 5, 2017.

The Cravath team included partners Andrew J. Pitts (Picture) and D. Scott Bennett and associate Benjamin G. H. Lazar. Daniel A. Schwaibold also worked on this matter.

Involved fees earner: Andrew Pitts – Cravath Swaine & Moore; Scott Bennett – Cravath Swaine & Moore; Benjamin G. H. Lazar – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Citigroup Inc.; Morgan Stanley; UBS Investment Bank; JP Morgan Securities; Stifel Financial Corp.;

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Author: Ambrogio Visconti