Global Ship Lease Announces Results of Annual Mandatory Offer to Purchase up to $20.0 Million of First Priority Secured Notes...
09 Dezembro 2019 - 10:30AM
Global Ship Lease, Inc. (NYSE: GSL) (the “Company”) today announced
the results of the cash tender offer (the “Annual Mandatory Offer”)
to purchase up to $20.0 million aggregate principal amount (the
“Maximum Offer Amount”) of its outstanding 9.875% First Priority
Secured Notes due 2022 (the “Notes”). The Annual Mandatory Offer
expired at 5:00 p.m., New York City time, on December 6, 2019.
The table below sets forth the results of the
Annual Mandatory Offer for the Notes, according to information
provided by Global Bondholder Services Corporation, the Information
Agent, as of the expiration of the Annual Mandatory Offer.
Title |
CUSIP |
Aggregate Principal Amount Outstanding Prior to
Settlement |
Principal Amount of Notes Tendered and
Accepted |
Maximum Offer Amount |
9.875% First Priority Secured Notes due 2022 |
Y27183 AA3 37953T AB1 |
$ |
340,000,000 |
$ |
17,277,000 |
$ |
20,000,000 |
Payment for the validly tendered and not validly
withdrawn Notes will be made at a purchase price of 102% of the
aggregate principal amount thereof plus accrued and unpaid interest
to, but not including, the purchase date (the “Purchase
Date”). The Company expects the Purchase Date to be December
10, 2019. The aggregate purchase price, inclusive of accrued
and unpaid interest, payable on the Purchase Date for the validly
tendered and not validly withdrawn Notes will be approximately
$17.7 million.
Under the terms of the indenture governing the
Notes, to the extent that the principal amount of Notes validly
tendered and not properly withdrawn pursuant to the Annual
Mandatory Offer is less than the Maximum Offer Amount by an amount
that is equal to or greater than a de minimis amount
of $500,000, the Company shall be required to pay indebtedness
under its term loan facility, dated as of October 25, 2017, among
the Company, the guarantors party thereto, the lenders party
thereto and Citibank Europe plc, UK Branch (the
“Term Loan Facility”) to ensure that the aggregate principal amount
of Notes repurchased and Term Loan Facility repaid shall be at
least equal to $40.0 million (inclusive of an aggregate of $20
million in scheduled principal amortization payments on the Term
Loan Facility) during 2019. Accordingly, the Company intends to
repay an additional amount of approximately $2.7 million on the
Term Loan Facility.
This press release is neither an offer to
purchase nor the solicitation of an offer to sell any Notes, nor
shall there be any offer, solicitation or sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The Annual Mandatory Offer was made solely pursuant to
the Offer to Purchase dated October 25, 2019, as supplemented, and
the related Letter of Transmittal.
For further information, contact Global Bondholder Services
Corporation:
Global Bondholder Services
Corporation65 Broadway – Suite 404New York, New York
10006Attn: Corporate Actions
Banks and Brokers call: (212) 430-3774Toll free
(866)-807-2200
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 Degnan646-673-9701orLeon
Berman212-477-8438
Global Ship Lease (NYSE:GSL)
Gráfico Histórico do Ativo
De Fev 2024 até Mar 2024
Global Ship Lease (NYSE:GSL)
Gráfico Histórico do Ativo
De Mar 2023 até Mar 2024