Tsakos Energy Navigation’s Offering of $135 million Fixed‑To‑Floating Rate Preferred Shares

Cravath represented the underwriters, led by Morgan Stanley, UBS Investment Bank, J.P. Morgan Securities, Citigroup and Credit Suisse, in connection with the $135 million offering of series F fixed‑to‑floating rate cumulative redeemable perpetual preferred shares of Tsakos Energy Navigation Limited

Tsakos Energy Navigation Limited, 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 June 28, 2018.

The Cravath team included partner Andrew J. Pitts (Picture) and associates James Ding and D. Ryan Hart on securities matters, and associate Damien J. Rose on tax matters. Summer associate Bethany Clarke also worked on securities matters.


Involved fees earner: Andrew Pitts – Cravath Swaine & Moore; James Ding – Cravath Swaine & Moore; Ryan Hart – Cravath Swaine & Moore; Damien Rose – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Citigroup Inc.; Credit Suisse; Morgan Stanley; UBS Investment Bank; JP Morgan Securities;



Author: Ambrogio Visconti