DGAP-News: Global Ship Lease Announces New First Priority Secured Notes Offering
(firmenpresse) - DGAP-News: Global Ship Lease, Inc. /
Global Ship Lease Announces New First Priority Secured Notes Offering
11.12.2013 / 13:09
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LONDON, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL)
(the 'Company') announced today that it plans to issue an aggregate principal
amount of up to $400,000,000 of first priority secured notes due 2021 (the
'Notes') in a private placement (the 'Offering'). The Notes will be fully and
unconditionally guaranteed, jointly and severally, on a senior basis by Global
Ship Lease Services Limited and each of the Company's 17 vessel-owning
subsidiaries and in the future by certain of the Company's existing and future
restricted subsidiaries, as may be required by the terms of the indenture that
will govern the Notes.
On the issue date, the Notes will be secured by first priority ship mortgages
on 17 vessels owned by certain subsidiary guarantors (the 'Mortgaged Vessels')
and certain other associated property and contract rights, as well as share
pledges over the subsidiary guarantors that own the Mortgaged Vessels
(collectively, the 'Initial Collateral'). In the future, vessels, shipping
containers and container shipping-related assets and certain other associated
property and contract rights may be pledged in addition to or in substitution
for Initial Collateral.
The Company intends to use the net proceeds from the Offering, together with
cash on hand, to repay all outstanding borrowings under, and terminate, the
Company's existing credit facility, to terminate the Company's existing
interest rate swap agreements and to pay related expenses.
The Notes have not been registered under the Securities Act of 1933, as amended
(the 'Securities Act'). The Notes may not be offered or sold within the United
States or to U.S. persons, except to 'qualified institutional buyers' in
reliance on the exemption from registration provided by Rule 144A and to
certain persons in offshore transactions in reliance on Regulation S. You are
hereby notified that sellers of the Notes may be relying on the exemption from
the provisions of Section 5 of the Securities Act provided by Rule 144A. This
announcement does not constitute an offer to sell or the solicitation of an
offer to buy Notes in any jurisdiction in which such an offer or sale would be
unlawful.
Application will be made to list the Notes on the Official List of the Irish
Stock Exchange and for the Notes to be admitted to trading on the Global
Exchange Market thereof.
Forward-Looking Statements
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 Group
Bryan Degnan
646-673-9701
Or
Leon Berman
212-477-8438
News Source: NASDAQ OMX
End of Corporate News
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11.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Global Ship Lease, Inc.
Großbritannien
ISIN: MHY271831056
End of News DGAP News-Service
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244279 11.12.2013
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Unternehmensinformation / Kurzprofil:
Datum: 11.12.2013 - 13:09 Uhr
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News-ID 323336
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