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Benzinga
Benzinga
Business
Akanksha Bakshi

Global Ship Lease Raises $350M Via Debt Offering

GSL
  • Global Ship Lease Inc (NYSE: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.
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