Brief: Global Ship Lease Announces Agreement To Acquire 12 Containerships

Global Ship Lease

08/06/2021 22:07

June 8 (Reuters) - Global Ship Lease Inc  GSL.N :
    * GLOBAL SHIP LEASE ANNOUNCES AGREEMENT TO ACQUIRE 12
CONTAINERSHIPS
    * GLOBAL SHIP LEASE INC -  TO PURCHASE 12 CONTAINERSHIPS
FROM
BOREALIS FINANCE LLC FOR AN AGGREGATE PURCHASE PRICE OF $233.9
MILLION
    * GLOBAL SHIP LEASE INC - SHIPS ARE ALL ON CHARTER WITH
LEADING
LINER OPERATORS, WITH REMAINING CHARTER DURATIONS OF THREE TO 25
MONTHS
    * GLOBAL SHIP LEASE INC - WITH THESE ADDITIONS, CO'S FLEET
WILL
COMPRISE 62 CONTAINERSHIPS WITH A TOTAL CAPACITY OF 322,770 TEU
    * GLOBAL SHIP LEASE INC - 12 VESSELS ARE SCHEDULED FOR
DELIVERY
DURING Q3 OF 2021
    * GLOBAL SHIP LEASE - EXPECTS TO FUND DEAL WITH CASH,
PROCEEDS OF
NEW BANK DEBT, AND ISSUANCE OF $35.0 MILLION OF 8.00% SENIOR
UNSECURED NOTES TO SELLERS
    * GLOBAL SHIP LEASE INC - NEWLY ACQUIRED SHIPS ARE EXPECTED
TO
CONTRIBUTE ABOUT $60.5 MILLION OF ADJUSTED EBITDA IN FIRST 12
MONTHS
    * GLOBAL SHIP LEASE - SHIPS ANTICIPATED TO ADD ABOUT $1.09
EPS IN
FIRST 12 MONTHS, BASED ON TODAY'S OUTSTANDING SHARE COUNT,
LIBOR, OTHER ASSUMPTIONS

Source text for Eikon:  ID:nGNX9qV262 
Further company coverage:  GSL.N 

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