Seaspan said it would be selling 5.7m shares in a public offering and to raise $125m through a convertible bond issue due in 2018. In addition to the primary offering of 5.7m shares Seaspan will sell 300,000 shares in a secondary offering.
“Seaspan intends to use the net proceeds it receives from the primary offering and the convertible note offering for general corporate purposes, which may include funding vessel acquisitions,” Seaspan said.
Last week Seaspan declared options for five 10,000 teu boxships at Yangzijiang Shipbuilding.
Citigroup, BofA Merrill Lynch, Deutsche Bank Securities and Credit Suisse Securities are acting as joint book-running managers of the common shares public offering. Deutsche Bank Securities, BofA Merrill Lynch, Citigroup and Credit Suisse Securities are acting as joint book-running managers of the convertible bond issue.
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