Global Ship Lease Announces Partial Redemption of 8.00% Senior Notes Due 2024
07 Março 2022 - 10:30AM
Global Ship Lease, Inc. (NYSE: GSL) (the “Company”) today announced
that it has delivered notice of partial redemption of its 8.00%
Senior Notes due 2024 (the “Notes”) to Wilmington Savings Fund
Society, as trustee, registrar, and paying agent (the “Trustee”).
The Company has elected to effect a redemption (the “Redemption”)
of $28,500,000 aggregate principal amount of the Notes (the
“Redeemed Notes”) at a redemption price equal to 102.00% of the
principal amount thereof (the “Redemption Price”) plus accrued and
unpaid interest to, but not including, the redemption date of April
5, 2022 (the “Redemption Date”).
The Redeemed Notes will be selected by the
Trustee in accordance with the applicable rules and procedures of
The Depository Trust Company. Notes and portions of Notes selected
for redemption will be in principal amounts of $25.00 or integral
multiples of $25.00 in excess of thereof. Interest on the Redeemed
Notes will cease to accrue on and after the Redemption Date. All
Redeemed Notes must be surrendered to the Trustee to collect the
Redemption Price plus accrued interest.
A Notice of Partial Redemption has been sent on
March 4, 2022 to the registered holders of the Notes, pursuant to
the requirements of the indenture governing the Notes. Upon
completion of the Redemption, approximately $89,020,500 aggregate
principal amount of the Notes will remain outstanding.
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. It was listed on the New York Stock Exchange
in August 2008.
As at March 1, 2022, Global Ship
Lease owned 65 containerships, ranging from 1,118 to 11,040
TEU, with an aggregate capacity of 342,348 TEU. 32 ships are
wide-beam Post-Panamax.
Adjusted to include all charters agreed, and
ships contracted to be purchased, up to March 1, 2022, the
average remaining term of the Company’s charters as
at December 31, 2021, to the mid-point of redelivery,
including options under the Company’s control and other than if a
redelivery notice has been received, was 2.6 years on a
TEU-weighted basis. Contracted revenue on the same basis
was $1.79 billion. Contracted revenue was $2.04 billion,
including options under charterers’ control and with latest
redelivery date, representing a weighted average remaining term of
3.3 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
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