Aegean Marine Petroleum Network Inc. Announces Proposed Offering of $75 Million Convertible Senior Notes

PIRAEUS, Greece, Oct. 17, 2013 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) ("Aegean") today announced that it plans to offer, subject to market and other conditions, convertible senior notes due 2018 of $75 million aggregate principal amount in an underwritten public offering pursuant to an effective shelf registration statement on Form F-3. Aegean expects to grant the underwriter a 30-day option to purchase up to an additional $11.25 million aggregate principal amount of convertible senior notes in connection with the offering. Prior to May 1, 2018, the notes will be convertible only upon certain circumstances and during specified periods. Upon conversion, the holders will receive, at Aegean's option, shares of Aegean's common stock, cash or a combination of shares and cash. Jefferies LLC will be acting as the sole book-running manager for the offering.

The notes will be general senior unsecured obligations of Aegean and will pay interest semi-annually in arrears. The principal amount, interest rate, conversion rate, offering price and other terms will be determined at the time of pricing of the offering. Aegean expects to use the net proceeds for general corporate purposes and working capital, including repayment of short-term indebtedness without reduction in commitment.

The convertible senior notes will be offered and sold under Aegean's existing shelf registration statement filed with the Securities and Exchange Commission ("SEC"), which went effective on August 30, 2013. Before you invest in the convertible senior notes, you should read the prospectus and accompanying preliminary prospectus supplement relating to the offering and other documents Aegean has filed with the SEC for more complete information about Aegean and the offering. You may get these documents at the SEC web site at http://www.sec.gov/.  Copies of the preliminary prospectus supplement and accompanying prospectus may also be obtained, when available, from Jefferies LLC (Attn: Equity Syndicate Prospectus Department), 520 Madison Avenue, 12^th Floor, New York, New York 10022, Phone: 1-877-547-6340, Email:[email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning the completion, timing and size of the proposed offering and other statements that are other than statements of historical facts. These statements involve significant risks and uncertainties. Because these statements reflect our current expectations concerning future events, our actual events could differ materially from those anticipated in these forward-looking statements as a result of many factors. These factors include, but are not limited to: the risk that the offering may be delayed or may not occur due to market or other conditions and the satisfaction of customary closing conditions related to the proposed public offering. Additional information concerning these and other factors that may cause actual events to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of Aegean's most recent Annual Report on Form 20-F, in our other periodic reports and filings with the SEC and in the prospectus supplement related to the offering. We caution investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to Aegean on the date hereof, and we undertake no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

SOURCE Aegean Marine Petroleum Network Inc.

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