Global Ship Lease Announces Syndicated Loan Facility
Global Ship Lease has agreed a $1 billion syndicated loan facility bearing interest at SOFR plus 1.5% with a seven-year duration, arranged through an oversubscribed 8-bank syndicate led by Bank of America. The company will draw the facility in tranches matching deliveries of its 15 announced newbuildings, scheduled from late 2028 through 2030, each of which is already contracted to time-charter employment upon delivery. CFO Tassos Psaropoulos said the 1.5% margin is roughly 550bps below what was available to GSL five years ago, reflecting the transformed balance sheet and supporting further de-risking of the newbuilding program.
Key figures
- Deal Value Usd
- $1 billion
- Interest margin
- SOFR + 1.5%
- Syndicate banks
- 8
- Facility duration
- 7 years
- Newbuilding vessels financed
- 15
- Margin improvement vs five years ago
- 550bps lower
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