Global Ship Lease launches $400 million secured notes offer

By Paul A. Harris

Portland, Ore., June 28 – Global Ship Lease, Inc. announced in a Wednesday press release that it has launched a $400 million offering of senior secured notes, subject to market conditions.

The market was awaiting further details on the structure of the deal as well as the identity of the lead bookrunner at mid-morning, sources said.

The containership charter owner, which is headquartered in the Marshall Islands, plans to use the proceeds from the Rule 144A and Regulation S sale to fully redeem its 10% first priority secured notes due 2019 and to repay and terminate its revolving credit facility.

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