Global Ship Lease Secures $65 Million Growth Facility For Fleet Expansion
Global Ship Lease, Inc. (the “Company”), a containership charter owner, announced that the Company had entered into a $65.0 million credit facility with funds associated with Hayfin Capital Management and Breakwater Capital to fund the acquisition of additional feeder containerships. The non-amortizing facility may be drawn down during an 8-month period beginning September 7, 2018 and reaches maturity in July 2022.
Ian Webber, Chief Executive Officer of Global Ship Lease, commented, “I am pleased to announce the establishment of this growth credit facility, which significantly increases our ability to grow at a time when feeder containerships remain at a substantial discount to both long-term average values and newbuild price parity. The fundamentals for mid-sized and smaller containerships remain compelling, with a limited orderbook and continued demand growth. With this enhanced growth capacity, Global Ship Lease is in an excellent position to create shareholder value amid these supportive dynamics.”
Andreas Povlsen, Chief Executive Officer of Breakwater Capital, said: “As a ship finance platform with a long-term approach, we seek to work with strong management teams with a clear and sustainable growth strategy. In this context, we are pleased to provide GSL with a tailored capital solution within a specific sub-sector where we share a common view around encouraging forward fundamentals.”
Press Release: globalshiplease.com
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
Related Articles
- MSC World America Honoured With Platinum Pearl Award At Naming Ceremony
- Trump Plans Deep Sea Metal Stockpile To Counter China’s Rare Earth Dominance
- Greece To Acquire Italian Bergamini-Class Frigates To Modernise Its Fleet
- Chevron’s Oil Cargoes Remain Stalled At Sea After Venezuela Cancels Export Approvals
- Massive Fire Breaks Out On Cargo Ship In North Kent
- US Navy Cancels High-Priority HALO Missile Program Due To Cost & Performance Issues
BE THE FIRST TO COMMENT