Press Release
March 18, 2014

Holland & Knight Honored as Legal Counsel for "Public Debt Deal of the Year" Award Sponsored by Marine Money Magazine for 2013

NEW YORK (March 18, 2014) - Holland & Knight was recognized as issuer's legal counsel on the "Public Debt Deal of the Year" award for 2013 by Marine Money International, international ship finance publishers, for its work on a $300 million secured public debt offering for its clients Eletson Holdings, Inc. and Eletson Finance (US) LLC. This transaction marked the return of Eletson to the U.S. bond market.

Eletson, based in Greece, owns and operates one of the world's largest privately-owned medium and long range product tanker fleets, currently comprising 25 vessels, with three LR tankers to be delivered in 2014, and, through its majority-owned and Eletson-managed joint venture with the Blackstone Group, one of the world's newest and largest LPG/LEG fleets, currently comprising six vessels, with eight newbuildings to be delivered by shipyards in China and Korea in 2015 and 2016, and options for two more.

The Holland & Knight team was led by Partner Jovi Tenev with assistance from Partners Randolph DelFranco, Rick Crowley, Anne-Mette Andersen and Aaron Goldberg, all in the firm's New York office.

In addition to Holland & Knight, other advisors to Eletson on this deal were named. They are Jefferies, the lead bookrunner, DNB Markets, as Joint Book-Running Manager, and Clarkson Capital Markets and Brock Capital as Co-Managers.

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