London, UK - January 21, 2021
Seaspan Corporation ("Seaspan"), a wholly owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that it has successfully priced US $200 million in new senior unsecured sustainability-linked bonds in the Nordic bond market (the "Offering"). 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.
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. For more information visit atlascorporation.com.
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. For more information visit seaspancorp.com.
Seaspan Corporation press release