Seaspan launches $500m offering of senior unsecured 'blue transition bonds'

06/07/2021

PRESS RELEASE

LONDON, July 6, 2021 /PRNewswire/ – Seaspan Corporation (“Seaspan”), a wholly owned subsidiary of Atlas Corp. (“Atlas”) (NYSE: ATCO), today announced that it intends to offer, subject to market conditions and other factors, $500 million aggregate principal amount of senior unsecured notes due 2029 (the “Notes”). Seaspan intends to allocate the net proceeds of the offering to acquire, finance or refinance, in whole or in part, certain new and/or existing eligible projects as defined in the offering memorandum. Seaspan recently published on its website a Blue Transition Bond Framework and received a Second Party Opinion from Sustainalytics on its alignment with the ICMA’s Green Bond Principles 2021 and Climate Transition Finance Handbook 2020.

The Notes will be senior unsecured obligations of Seaspan. The Notes will not be guaranteed by Atlas or any of its subsidiaries. The Notes are expected to pay interest semiannually and will mature on August 1, 2029, unless earlier redeemed or repurchased in accordance with their terms. The final terms of the Notes, including the interest rate and other terms, will be determined by negotiations between Seaspan and the initial purchasers of the Notes.

The full release is here.

Also released today:

– “Seaspan receives initial BB- corporate and issue level rating from S&P Global Ratings“;

– “Seaspan announces order for ten 7,000 teu dual-fuel LNG containership newbuilds“;

– “Seaspan’s fleet continues to grow with delivery of two 15,000 teu containerships on long-term charters“.