Global Ship Lease offers $350 million-$400 million five-year notes

Portland, Ore., Oct. 10 – Global Ship Lease, Inc. announced in a Monday press release that it has mandated advisers to arrange a series of investor meetings relating to a proposed offering of five-year first priority secured notes totaling between $350 million and $400 million.

The containership charter owner, which is incorporated in the Marshall Islands, plans to offer the non-registered notes, which will have customary high-yield bond covenants, subject to market conditions.

Proceeds, together with borrowings under a new super senior secured term loan facility, will be used to refinance the company’s existing first priority secured notes due 2019 and repay and terminate its existing revolving credit facility and secured term loan.

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