Seaspan, Fairfax Ink Deal on USD 250 Mn of Investment

Hong Kong-based ship owner and manager Seaspan Corporation has signed definitive agreements with Fairfax Financial Holdings Limited for USD 250 million of investment.

In late December 2017, the company entered into a letter of intent pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries, will make the investment in exchange for the issuance of 5.5% interest bearing unsecured debentures and Class A Common Share purchase warrants.

The parties informed that the transaction is expected to close before March 1, and Seaspan intends to use the proceeds from the investment to fund future growth initiatives, debt repayment and for general corporate purposes.

“The Fairfax investment is a significant milestone that will better focus our efforts on leveraging our industry leading position to take advantage of accretive growth opportunities going forward,” Bing Chen, Chief Executive Officer of Seaspan, said.

“We welcome the insights that Fairfax will bring to our board, while our extraordinary Seaspan team continues to provide the best solutions to our customers around the world,” Chen added.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >