New York-listed Atlas Corp is lowering financial costs as it expands its fleet with a huge newbuilding programme.
The owner of containership giant Seaspan Corp is streamlining its capital structure in a series of deals worth $935m that will see it exchange notes and redeem preferred shares.
Atlas said it is swapping $600m of notes held by Canadian backer Fairfax Financial Holdings for preferred equity paying an annual dividend of 7%.
