Global Ship Lease Raises $350M Via Debt Offering

  • Global Ship Lease Inc GSL subsidiary, Knausen Holding LLC, priced an offering of $350 million of its 5.69% Senior Secured Notes due 2027 in a private placement to a limited number of accredited investors.
  • The interest rate on the Notes was determined based on the 3.2 year Interpolated U.S. Treasury Yield (ICUR3.2) plus a spread of 2.85%.
  • The company plans to use the offering proceeds to repay the remaining outstanding balance on its $236.2 million Senior Secured Loan Facility and the remainder for general corporate purposes, including debt repayment.
  • The notes offering will close on June 15, 2022.
  • Price Action: GSL shares are trading higher by 4.46% at $23.21 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsOfferingsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!