Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced that it plans to sell 15,000,000 shares of newly issued Class A common shares, par value $.01 per share, in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
The shares being offered represent approximately 30% of the Company's outstanding Class A common shares. The underwriters will be granted a 30-day option to purchase up to an additional 2,250,000 shares to cover over-allotments, if any. The Company intends to use the net proceeds from this offering primarily for debt reduction and general corporate purposes.
Deutsche Bank Securities Inc. will act as the sole bookrunner for this offering.
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