HONG KONG, Feb. 14, 2018 /PRNewswire/ - Seaspan Corporation
(NYSE: SSW) ("Seaspan" or the "Company") announced today that it
has closed the previously announced US$250
million investment from certain subsidiaries of Fairfax
Financial Holdings Limited (collectively, "Fairfax"). The
investment from Fairfax is comprised of 5.5% interest bearing
debentures (the "Debentures") and Class A Common Share purchase
warrants (the "Warrants"). Seaspan intends to use the proceeds from
the investment to fund future growth initiatives, debt repayment
and for general corporate purposes.
About Seaspan
Seaspan provides many of the world's major shipping lines
with creative outsourcing alternatives to vessel ownership by
offering long-term leases on large, modern containerships combined
with industry leading ship management services. Seaspan's operating
and managed fleet consists of 112 containerships representing a
total capacity of approximately 900,000 TEU, including 4
newbuilding containerships on order scheduled for delivery
to Seaspan and third parties by mid-2018, and one second
hand vessel scheduled for delivery during the month. Upon delivery
of the second hand vessel, Seaspan's operating fleet will be
comprised of 92 vessels with an average age of approximately six
years and average remaining lease period of approximately five
years, on a TEU weighted basis.
Seaspan has the following securities listed on The New York
Stock Exchange:
Symbol:
|
Description:
|
|
|
SSW
|
Class A common
shares
|
SSW PR
D
|
Series D preferred
shares
|
SSW PR
E
|
Series E preferred
shares
|
SSW PR
G
|
Series G preferred
shares
|
SSW PR
H
|
Series H preferred
shares
|
SSWN
|
6.375% senior
unsecured notes due 2019
|
SSWA
|
7.125% senior
unsecured notes due 2027
|
For Investor Relations Inquiries:
Mr. David
Spivak
Chief Financial Officer
Seaspan Corporation
Tel. 604-638-2580
Mr. Michael
Sieffert
Director, Corporate Finance
Seaspan Corporation
Tel. 778-328-6490
For Media Inquiries:
Mr. Leon
Berman
The IGB Group
Tel. 212-477-8438
SOURCE Seaspan Corporation