Seaspan issues $300M sustainability-linked bond
Seaspan Corporation, a wholly-owned subsidiary of Atlas Corp., said it has priced $300 million in new senior unsecured sustainability-linked bonds in the Nordic bond market.
The bonds will mature in April 2026 and bear interest at 6.50% per annum.
As informed, the net proceeds from the bond issue will be used for general corporate purposes, which may include repayment of debt.
“Atlas continues to optimize its capital structure through access to the unsecured credit markets, placing our second Nordic bond issuance, which is a leading ESG principled financial marketplace,” Graham Talbot, CFO of Atlas and Seaspan, commented.
“We have a solid and growing institutional investor base, which reflects our continued strong and resilient financial performance, consistent quality growth, and our commitment and execution of ESG initiatives. This is another important step toward achieving an investment grade corporate credit rating.”
DNB Markets and Fearnley Securities acted as Joint Bookrunners for the Offering.
Earlier this year, Seaspan raised $200 million from its first senior unsecured sustainability-linked bonds in the Nordic bond market.
As of 31 December 2020, Seaspan’s fleet consisted of 127 containerships representing a total capacity of approximately 1,073,200 TEU. Beginning in December 2020, Seaspan has announced the addition of a total of 597,000 TEU represented by 41 vessels, including 37 newbuild vessels, and the acquisition of four vessels in the secondary markets, increasing total capacity to 1,670,200 TEU, on a fully delivered basis.