Seaspan has greenshoe exercised, lifting 6.375% five-year senior notes to $345 million

By Toni Weeks

San Luis Obispo, Calif., March 31 - Underwriters for Seaspan Corp.'s public offering of 6.375% senior notes due April 30, 2019 fully exercised their greenshoe for additional 1.8 million notes, lifting the total deal size to $345 million.

The company sold a total of 13.8 million notes at par of $25.00 each. Settlement is expected April 3.

Sterne Agee & Leach was the bookrunner and structuring agent for the offering.

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.

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