Global Ship Lease, a containership charter owner incorporated in the Marshall Islands, has launched an offering of first priority secured notes due 2022 in an aggregate principal amount of USD 360 million.
The company intends to use the proceeds from the offering, together with borrowings under a new super senior secured term loan facility, to refinance its existing first priority secured notes due 2019 and repay all outstanding borrowings.
As at September 30, 2017, the company’s cash stood at USD 65.6 million, and its gross debt was USD 401.1 million.