Seaspan Announces Contemplated Sustainability-Linked Bond Issue

seaspan

Seaspan, a wholly owned subsidiary of Atlas Corp., announced that it has mandated DNB Markets and Fearnley Securities as Joint Bookrunners to arrange a series of fixed income investor meetings commencing on January 20, 2021. Subject to inter alia market conditions, a USD denominated senior unsecured sustainability-linked bond issue with a three-year tenor may follow. The net proceeds from the potential bond issue will be used for general corporate purposes, which may include repayment of debt.

Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on deploying capital to create sustainable shareholder value. Atlas brings together an experienced asset management team with deep operational and capital allocation experience. We target long-term, risk adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Our two portfolio companies, Seaspan Corporation and APR Energy are unique, industry-leading operating platforms in the global maritime and energy spaces, respectively.

Seaspan is a leading independent owner and operator of containerships with industry leading ship management services. We charter our vessels primarily pursuant to long-term, fixed-rate, time charters to the world’s largest container shipping liners. Seaspan’s fleet consists of 127 containerships, representing total capacity of approximately 1,073,000 TEU with $4.0 billion of contracted revenue as of September 30, 2020. Seaspan’s operating fleet of vessels has an average age of approximately 7 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis.

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