New York-listed Global Ship Lease (GSL) is spending more than $20m on buying back first priority secured notes.
It said investors had tendered above the maximum $20m amount under the repurchase programme, and the notes would be accepted on a pro-rata basis.
The $360m, 9.875% notes are due in 2022.
The aggregate purchase price, inclusive of accrued and unpaid interest, is $20.55m.
