Seaspan announces new loan agreement
Seaspan Corp., the Vancouver, B.C.-based containership owner and charter, has arranged an additional $920 million agreement with lenders.
The company said the credit facility will provide up to 100 percent of pre-delivery financing and 65 percent of post-delivery financing for 14 ships:
' Two 2,500-TEU ships chartered to Kawasaki Kisen Kaisha Ltd. ('K' Line).
' Four 4,250-TEU ships chartered to Compania SudAmerica de Vapores SA (CSAV).
' Eight 8,500-TEU ships chartered to an affiliate of COSCO Container Co. Ltd.
The lenders involved in the deal include DnB NOR Bank, Credit Suisse, the Export-Import Bank of China, the Industrial and Commercial Bank of China, and Sumitomo Mitsui Banking Corp.
The new deal is in addition to another revolving credit line that was recently boosted from $1 billion to $1.3 billion.
Gerry Wang, Seaspan's chief executive officer, said the deal proves the company can “access new lending sources, which will further enable us to access debt from banks in China.”
Seaspan fleet comprises 29 containerships and 26 to be delivered over the next three and a half years.