Global Ship Lease Announces Extension of Annual Mandatory Offer to Purchase up to $20.0 Million of First Priority Secured Not...
25 Novembro 2019 - 08:02PM
Global Ship Lease, Inc. (NYSE: GSL) (the “Company” or “Global Ship
Lease”) today announced that its previously announced cash tender
offer (the “Annual Mandatory Offer”) to purchase up to $20.0
million aggregate principal amount of its outstanding 9.875% First
Priority Secured Notes due 2022 (the “Notes”) at a purchase price
of 102% of the aggregate principal amount thereof plus accrued and
unpaid interest to, but not including, the purchase date, has been
extended until 5:00 p.m. New York City time on Friday, December 6,
2019, unless further extended or earlier terminated by the
Company. Except for the extension of the Annual Mandatory
Offer, all other terms and conditions of the Annual Mandatory Offer
remain unchanged. As of November 25, 2019, $17,277,000 aggregate
principal amount of Notes had been validly tendered pursuant to the
Annual Mandatory Offer and not properly withdrawn.
The Annual Mandatory Offer is being made
pursuant to the requirements set forth in the indenture governing
the Notes, and on the terms and conditions set forth in the Offer
to Purchase, dated October 25, 2019, and related documents
(collectively, the “Offer Documents”), which set forth the complete
terms and conditions of the Annual Mandatory Offer. The Annual
Mandatory Offer is made only by and pursuant to the terms set forth
in the Offer Documents, and the information in this press release
is qualified by reference to those documents. Subject to applicable
law, the Company may amend, extend or terminate the Annual
Mandatory Offer.
This press release is for informational purposes
only and is neither an offer to purchase nor a solicitation of an
offer to sell any Notes.
THE ANNUAL MANDATORY OFFER IS BEING MADE ONLY
PURSUANT TO THE OFFER DOCUMENTS THAT THE COMPANY HAS DISTRIBUTED,
OR WILL DISTRIBUTE, TO ITS NOTEHOLDERS AND NOTEHOLDERS SHOULD READ
CAREFULLY THE OFFER DOCUMENTS BECAUSE THEY CONTAIN IMPORTANT
INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE
ANNUAL MANDATORY OFFER. NOTEHOLDERS ARE URGED TO CAREFULLY READ
THESE MATERIALS PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE
ANNUAL MANDATORY OFFER.
Any questions regarding the procedures for
tendering Notes should be directed to the Depositary Agent for the
Annual Mandatory Offer, Global Bondholder Services
Corporation, toll free at (866) 807-2200 (banks and brokers call
(212) 430-3774) or 65 Broadway, Suite 404, New York,
NY 10006.
About Global Ship Lease
Global Ship Lease is a leading independent
owner of containerships with a diversified fleet of mid-sized and
smaller containerships. Incorporated in the Marshall
Islands, Global Ship Lease commenced operations
in December 2007 with a business of owning and chartering
out containerships under fixed-rate charters to top tier container
liner companies. On November 15, 2018, it completed a
strategic combination with Poseidon Containers.
Including two 6,650 TEU containerships and two
6,080 TEU containerships that the Company has contracted to
purchase, Global Ship Lease owns 45 ships, ranging from 2,207 to
11,040 TEU, of which nine are fuel efficient new-design wide beam,
with a total capacity of 249,622 TEU and an average age, weighted
by TEU capacity, of 12.6 years as at September 30, 2019.
Including the four containerships that the
Company has contracted to purchase, the average remaining term of
the Company’s charters at September 30, 2019, to the mid-point of
redelivery, including options under owner’s control, was 2.7 years
on a TEU-weighted basis. Contracted revenue on the same basis was
$826 million. Contracted revenue was $913 million, including
options under charterers’ control and with latest redelivery date,
representing a weighted average remaining term of 3.0 years.
Safe Harbor Statement
This press release contains forward-looking
statements. Forward-looking statements provide the Company’s
current expectations or forecasts of future events. Forward-looking
statements include statements about the Company’s expectations,
beliefs, plans, objectives, intentions, assumptions and other
statements that are not historical facts. Words or phrases such as
“anticipate,” “believe,” “continue,” “estimate,” “expect,”
“intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “will” or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. These forward-looking statements
are based on assumptions that may be incorrect, and the Company
cannot assure you that the events or expectations included in these
forward-looking statements will come to pass. Actual results could
differ materially from those expressed or implied by the
forward-looking statements as a result of various factors,
including the factors described in “Risk Factors” in the Company’s
Annual Report on Form 20-F and the factors and risks the Company
describes in subsequent reports filed from time to time with the
U.S. Securities and Exchange Commission. Accordingly, you should
not unduly rely on these forward-looking statements, which speak
only as of the date of this press release. The Company undertakes
no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this press
release or to reflect the occurrence of unanticipated events.
Investor and Media Contact:
The IGB GroupBryan Degnan646-673-9701
or
Leon Berman212-477-8438
Global Ship Lease (NYSE:GSL)
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