Global Ship Lease looks to refinance chunk of $900m debt

Global Ship Lease (GSL) is looking to refinance a major slice of debt to take advantage of lower interest rates.

The New York-listed containership owner is considering its options for a major $340m credit facility that it financed at an expensive rate of nearly 10% per year.

Refinancing at lower interest rates could save the company in the region of $10m per year, GSL chief executive Ian Webber told a conference call.