Seaspan inks $125m unsecured loanSeaspan inks $125m unsecured loan

The unsecured, non-amortising loan will be used for general corporate expenses and follows a refinancing of the company's $1bn credit facility at the end of December.

The $1bn deal done in December comes into effect at the end of this month and pushes the maturity date of the credit facility back to from May 2015 to May 2019, with a reduction of the outstanding amount to $435m funded by liquidity and other credit.

Gerry Wang, ceo, co-chairman, and co-founder of Seaspan, commented, "We appreciate the strong support Seaspan continues to receive from leading institutions due to our credit strength, contracted growth and future opportunities.

"Following the refinancing of our $1 billion credit facility, we are pleased to enter into our first unsecured, non-amortizing, fixed rate facility... We intend to seek similar additional debt capital from the private and capital markets in the future to fund our growth."

Seaspan has 31 newbuilds on order and had $3.7bn in borrowings at the end of the third quarter last year.