Global Ship Lease further extends revolver waiver for loan-to-value tests to Aug. 31

By Jennifer Chiou

New York, July 31 - Global Ship Lease Inc. said it extended its revolving credit facility waiver for loan-to-value tests until Aug. 31 from July 31.

The waiver had been previously extended from June 30.

The spread on the facility will be 275 basis points through Aug. 31.

During the extension period, the company expects to finalize an amendment to the $800 million facility.

The company was initially required to submit vessel valuations on April 30.

Fortis Bank is the agent on the deal.

Global Ship Lease is a New York-based containership charter owner.

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