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Global Ship Lease to mandatorily redeem some 9 7/8% notes due 2022
By Taylor Fox
New York, Nov. 30 – Global Ship Lease, Inc. has sent notice of mandatory partial redemption of its 9 7/8% first priority secured notes due 2022 to noteholders as of Nov. 26, according to a news release.
Global Ship is mandatorily redeeming $28 million of the notes at a redemption price of 102 plus interest on Dec. 7.
Notes and portions of notes selected for redemption will be in principal amounts of $200,000 or integral multiples of $1,000 in excess of $200,000.
All redeemed notes must be surrendered to the paying agent to collect the redemption price plus accrued interest.
Upon completion of the mandatory partial redemption, $233,436,000 of the notes will remain outstanding.
Citibank, NA is the trustee and registrar.
Global Ship Lease is a containership charter owner based in London.
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