GSL Prices First Priority Secured Notes
Global Ship Lease, Inc. (GSL) announced that it has priced an offering of $420,000,000 aggregate principal amount of 10.000% first priority secured notes due 2019 at an issue price of 98.5% in a private placement. The notes will be fully and unconditionally guaranteed, jointly and severally, on a senior basis by Global Ship Lease Services Limited and each of the company's 17 vessel-owning subsidiaries and in the future by certain of the company's existing and future restricted subsidiaries, as may be required by the terms of the indenture that will govern the notes. On the issue date, the notes will be secured by first priority ship mortgages on 17 vessels owned by certain subsidiary guarantors and certain other associated property…
Law Firm Ince & Co Advise on Huge Jack-Up Rig Deal
International law firm Ince & Co (Singapore) LLP represented Oro Negro in its international bond issuance, an offering of US$725-Million Notes due 2019. Partner Martin Brown described the issue as very good news for both the global high yield market and the oil services sector including the jack-up rig market operating in the Mexican Gulf of Mexico. Ince & Co explain that the purpose of the issuance is to refinance the acquisition of three already delivered new jack-up rigs, to finance the acquisition of a fourth new jack-up rig, and for general corporate purposes.
GSL Announces New First Priority Secured Notes Offering
Global Ship Lease, Inc. (GSL) announced that it plans to issue an aggregate principal amount of up to $400,000,000 of first priority secured notes due 2021 in a private placement. The notes will be fully and unconditionally guaranteed, jointly and severally, on a senior basis by Global Ship Lease Services Limited and each of the company's 17 vessel-owning subsidiaries and in the future by certain of the company's existing and future restricted subsidiaries, as may be required by the terms of the indenture that will govern the notes. On the issue date, the notes will be secured by first priority ship mortgages on 17 vessels owned by certain subsidiary guarantors and certain other associated property and contract rights…
