Seaspan seals $1bn financing programme
Net proceeds from the funding exercise are intended to be used to repay 12 secured credit facilities, for general corporate purposes, and may be used in part to finance the acquisition of vessels. The programme can also be doubled to $2bn through additional commitments, the execution of additional secured loan agreements and/or the issuance of private placement notes
The move is billed as a significant step forward in building up Seaspan’s capital structure and the ship lessor expects to be leverage neutral after the transaction
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