Seaspan, a wholly owned subsidiary of Atlas Corp., announced that it has successfully priced US $200 million in new senior unsecured sustainability-linked bonds in the Nordic bond market.
The bonds will mature in February 2024 and bear interest at 6.5% per annum. The net proceeds from the bond issue will be used for general corporate purposes, which may include repayment of debt.
Bing Chen, President and CEO of Atlas, commented, “We are pleased to continue to access the unsecured credit markets with this issuance and important entry into the Nordic bond marketplace. The strong global investor demand demonstrated significant interest in our commitment to ESG and heightened environmental objectives combined with our strong financial performance and consistent growth. Atlas is focuse on generating quality growth, combine with prudent financial discipline and stringent capital allocation which is supported by this issuance. We continue to improve our capital structure as we remain committed to our longer-term objective of reaching an investment grade credit rating.”
DNB Markets and Fearnley Securities acted as Joint Bookrunners for the Offering.