Seaspan Announces Closing Of Innovative $838Mn Eca-Backed Jolco Financing
12/15/21, 8:00 AM
Location
londonMoney raised
$838 million
Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), is proud to announce today fulsome details on one of its financing arrangements previously identified in Atlas' third quarter results released on November 8, 2021. This innovative financing arrangement is a first-of-its-kind vessel financing (the "Financing"), combining two existing asset financing structures to add long-dated and attractively priced debt to Seaspan's capital structure. Proceeds from the Financing totaling approximately $838 million will be used to finance eight previously announced newbuild vessels, consisting of four 12,000 TEU and four 15,000 TEU vessels (the "Vessels")
Company Info
Location
london, ontario, canada
Additional Info
Seaspan is a leading independent owner and operator of containerships. We charter our vessels primarily pursuant to long-term, fixed-rate time charters to the world's largest container shipping liners. Seaspan's operational fleet consists of 134 vessels with a total capacity of 1,156,800 TEU. We also have 67 vessels under construction, increasing total capacity of our operational fleet to 1,959,200 TEU, on a fully delivered basis. For more information visit seaspancorp.com.