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Seaspan'S 70 Vessel Newbuild Program Is Now Fully Financed Following Completion Of Innovative $1.4 Billion Structured Financing

Jan 05, 2022•almost 4 years ago

Amount Raised

$1.4 Billion

London

Description

Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that on December 23, 2021, it secured the last of its financings for its full 70 vessel newbuild program, including three vessels recently delivered (the "Newbuild Program"). The proceeds from these financings total approximately $6.9 billion and will be drawn throughout construction of the Newbuild Program to fund a total investment of approximately $7.6 billion.

Company Information

Company

Seaspan

Location

London, Ontario, Canada

About

Seaspan is a leading independent owner and operator of containerships. We charter our vessels primarily pursuant to long-term, fixed-rate time charters to the world's largest container shipping liners. Seaspan's operational fleet consists of 134 vessels with a total capacity of 1,156,800 TEU. We also have 67 vessels under construction, increasing total capacity of our operational fleet to 1,959,200 TEU, on a fully delivered basis. For more information visit seaspancorp.com.