In a preliminary prospectustied to its latest Wall Street fundraiser, the New York-quoted containership operatorindicated negotiations with lenders are well underway.
The company said it has asked its banks to push back the maturity of the $1bn facility from May2015 to May 2019 and lower the outstanding balance to $435m in exchange for a higherinterest rate.
To fund the proposedreduction, which would take effect in the first quarter of 2014, Seaspan said it plansto withdraw $340m from an existing facility backed by an Asian lender and expects to coverthe remaining $255m balance with “existing liquidity”.
The
