Seaspan Corporation has priced its previously announced USD 80 million public offering of senior unsecured notes due 2027, which will mature on October 30, 2027 and will bear interest at a rate of 7.125% per year, payable quarterly on each January 30, April 30, July 30 and October 30, beginning on January 30, 2018.
• Seaspan granted the underwriters of the offering a 30-day option to purchase up to an additional USD 12 million of the notes on the same terms and conditions. The offering is expected to close on October 10, 2017.
Seaspan intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes. Following the offering, Seaspan intends to file an application to list the notes on The New York Stock Exchange.