Seaspan Corporation, a wholly owned subsidiary of Atlas Corp., announced its intention to redeem all of its remaining 5.50% senior notes held by certain affiliates of Fairfax, including $250 million of 5.50% senior notes due 2025 and $50 million of 5.50% senior notes due 2026, for cash on August 23, 2021. The redemption price per Fairfax Note will be equal to $1,000.00 plus all accrued and unpaid interest thereon from and including July 30, 2021 to the Redemption Date.
Graham Talbot, CFO of Atlas, commented, “We are very appreciative of our partnership with Fairfax and the strong support they have provided. The investments made by Fairfax have helped to strengthen the company and create the significant momentum in the business that we have today. The redemption of these notes reflects Fairfax’s continuing support as we mature and diversify Atlas’ global investor base and increase access to capital market opportunities. This is also a further step in our ongoing efforts to simplify and optimize our capital structure.”