Seaspan Unveils Share Offering

MoneyIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Hong Kong-based containership owner Seaspan Corporation said it plans to offer shares of its Series I Preferred Shares in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

Seaspan has also granted the underwriters a 30-day option to purchase additional Series I Preferred Shares.

Seaspan intends to use the net proceeds from the offering for general corporate purposes, which may include funding acquisitions, debt repayments and redeeming certain of Seaspan’s existing preferred shares.

Following the offering, the company intends to file an application to list the Series I Preferred Shares on The New York Stock Exchange.

Earlier in September, Seaspan closed a two-year USD 150 million revolving credit facility which will be used to fund investments, acquisitions and for general corporate purposes.

 “The closing of our revolving credit facility is part of our continuous efforts to strengthen our capital structure and support our long-term growth strategy,” Bing Chen, President and Chief Executive Officer of Seaspan, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 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 1 2 3

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >