Seaspan plans sale of $25-par five-year notes; price talk 6.25%-6.5%

By Stephanie N. Rotondo

Phoenix, March 26 - Seaspan Corp. announced an offering of $25-par notes due April 2019 on Wednesday.

Price talk on the non-rated deal is 6.25% to 6.5%, according to a trader.

Sterne Agee & Leach is the bookrunner.

BB&T Capital Markets, DNB Markets, Incapital, Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Wunderlich Securities Inc., Maxim Group LLC, National Securities Corp. and Santander are the co-managers, according to a prospectus filed with the Securities and Exchange Commission.

Interest will be payable quarterly on the 30th day of January, April, July and October, beginning July 30.

Proceeds will be used for general corporate purposes, which may include funding vessel acquisitions or the repayment of debt.

The Hong Kong-based containership company intends to list the notes on the New York Stock Exchange.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.