Global Ship Lease announced that it has delivered notice of partial redemption of its 8.00% Senior Notes due 2024 to Wilmington Savings Fund Society, as trustee, registrar, and paying agent.
The Company has elected to effect a redemption of $28,500,000 aggregate principal amount of the Notes at a redemption price equal to 102.00% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date of April 5, 2022.
The Redeemed Notes will be selected by the Trustee in accordance with the applicable rules and procedures of The Depository Trust Company. Notes and portions of Notes selected for redemption will be in principal amounts of $25.00 or integral multiples of $25.00 in excess of thereof. Interest on the Redeemed Notes will cease to accrue on and after the Redemption Date. All Redeemed Notes must be surrendered to the Trustee to collect the Redemption Price plus accrued interest.
A Notice of Partial Redemption has been sent on March 4, 2022 to the registered holders of the Notes, pursuant to the requirements of the indenture governing the Notes. Upon completion of the Redemption, approximately $89,020,500 aggregate principal amount of the Notes will remain outstanding.