The table below sets forth the results of the Annual Mandatory Offer for the Notes, according to information provided by
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Payment for the validly tendered and not validly withdrawn Notes will be made at a purchase price of 102% of the aggregate principal amount thereof plus accrued and unpaid interest to, but not including, the purchase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
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the indenture governing the Notes, to the extent that the principal amount of Notes validly tendered and not properly withdrawn pursuant to the Annual Mandatory Offer is less than the Maximum Offer Amount by an amount that is equal to or greater than a de minimis amount of $500,000, the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
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
For further information, contact
Attn: Corporate Actions
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About
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,
Including the four containerships that the Company has contracted to purchase, the average remaining term of the Company’s charters at
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
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646-673-9701
or
212-477-8438
Source: Global Ship Lease, Inc.