The Seward & Kissel team, consisting of Gary J. Wolfe, Robert E. Lustrin, Anthony Tu-Sekine, and Eric S. Wu represented Excel Maritime Carriers Ltd., a major publicly traded shipping company, listed on the New York Stock Exchange, in connection with a $150 million Rule 144A offering of 1.875% convertible senior notes that was underwritten by Deutsche Bank Securities as sole book-running manager. The deal won for the “Equity-Linked Award” category. The notes are convertible into shares of Class A common stock of Excel Maritime Carriers Ltd. and feature a base conversion price of approximately $91.30 per share. Noteholders may surrender their notes for conversion at any time after April 15, 2014; prior to such time, the notes may only be converted subject to certain specific conditions. Furthermore, on certain dates in the future, the issuer may elect to redeem the notes for cash and the noteholders may require the issuer to repurchase their notes for cash. The holders also have registration rights.

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Gary J. Wolfe

(212) 574-1223
wolfe@sewkis.com

Anthony Tu-Sekine

(202) 661-7150
tu-sekine@sewkis.com

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