Greece’s Paragon Shipping lists $25 million 8 3/8% notes due 2021

By Susanna Moon

Chicago, Sept. 5 – Paragon Shipping Inc. said it listed its 8 3/8% senior notes due Aug. 15, 2021 for trading on the Nasdaq under the symbol “PRGNL.”

The notes will begin trading Friday, according to a company press release.

As previously announced, the company priced $25 million of the $25-par notes in line with talk in the 8 3/8% area.

Deutsche Bank Securities and Jefferies were the joint bookrunners.

Proceeds will be used to repay debt.

Paragon is an Athens-based provider of shipping transportation services, specializing in transporting drybulk cargoes, including such commodities as iron ore, coal, grain and other materials.

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