Seaspan Closes New $150MM Revolving Credit Facility

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Independent containership owner/operator Seaspan closed a $150 million, two-year, corporate revolving credit facility. The revolver will be used to fund investments, acquisitions and general corporate purposes.

Bing Chen, Seaspan president and CEO, said, “I am proud of our team’s leadership in developing this unique financing for our industry. The closing of our revolving credit facility is part of our continuous efforts to strengthen our capital structure and support our long-term growth strategy. We appreciate the strong partnership and unwavering commitment from our valued bank lenders.”

Seaspan’s operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately 6 years and an average remaining lease period of approximately five years, on a TEU weighted basis.

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