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Global Ship Lease to sell $400 million secured notes via Citigroup
By Paul A. Harris
Portland, Ore., March 10 - Global Ship Lease Inc. expects to price a $400 million offering of five-year first-priority secured notes (expected ratings B3/B) on Wednesday, according to an informed source.
Citigroup Global Markets is the bookrunner for the Rule 144A and Regulation S offering.
The notes come with two years of call protection and feature a 35% equity clawback.
Proceeds will be used to refinance debt and terminate existing interest rate swaps.
Global Ship Lease is a containership charter owner based in London and incorporated in the Marshall Islands.
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