HONG KONG, China, Aug. 18, 2016 /PRNewswire/ - Seaspan
Corporation ("Seaspan") (NYSE:SSW) announced today that it has
priced its previously announced $80
million public offering of its 8.20% Series G Cumulative
Redeemable Perpetual Preferred Shares (the "Series G Preferred
Shares") at $25 per share. The
offering is expected to close on August 25,
2016.
Seaspan intends to use the net proceeds of the offering for
general corporate purposes, which may include funding acquisitions
(which may include equity interests in Greater China Intermodal Investments LLC
("GCI") or assets of GCI), funding capital expenditures on existing
newbuild vessels and debt repayments.
ICBC International Securities Limited ("ICBC International"), a
wholly owned subsidiary of the Industry and Commercial Bank of
China Limited, acted as sole underwriter for the offering.
Copies of the prospectus supplement and accompanying base
prospectus related to the offering may be obtained from ICBC
International Securities Limited, 37/F ICBC Tower, 3 Garden Road,
Hong Kong.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The public offering
may be made only by means of a prospectus supplement and
accompanying base prospectus.
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 managed fleet consists of 117
containerships representing a total capacity of over 930,000 TEU,
including 13 newbuilding containerships on order scheduled for
delivery to Seaspan and third parties by the end of
2017. Seaspan's current operating fleet of 88 vessels
has 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:
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|
Description:
|
|
|
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SSW
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Class A common
shares
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SSW PR D
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Series D preferred
shares
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SSW PR E
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Series E preferred
shares
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SSW PR G
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Series G preferred
shares
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SSW PR H
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Series H preferred
shares
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SSWN
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6.375% senior
unsecured notes due 2019
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Forward-Looking Statements
The statements in this press release that are not historical
facts may be forward-looking statements, including statements about
Seaspan's public offering and the use of proceeds thereof. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. These risks and
uncertainties include, among others, failure to close the public
offering and those discussed in Seaspan's public filings with the
U.S. Securities and Exchange Commission. Seaspan undertakes no
obligation to revise or update any forward-looking statements
unless required to do so under the securities laws.
For Investor Relations Inquiries:
Mr. David
Spivak
Chief Financial Officer
Seaspan Corporation
Tel. 604-638-2580
Mr. Michael
Sieffert
Associate 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