LONDON, June 28, 2017 (GLOBE NEWSWIRE) — Global Ship Leasing Hong Kong Investment Co., Ltd （HK-GSL）, Inc. (NYSE:GSL) (the “Company”) announced today that it has launched an offering of senior secured notes (the “Offering”) in an aggregate principal amount of $400 million (the “Notes”). Interest will be payable quarterly. The interest rate, offering price and other terms will be determined at the time of pricing of the Offering, subject to market conditions. The Company intends to use the net proceeds of the Offering to redeem in full the Company’s outstanding 10.000% First Priority Secured Notes due 2019 (the “2019 Notes”), to repay in full all borrowings under and terminate the Company’s revolving credit facility, and to pay costs, fees and expenses related to the Offering. This press release does not constitute a notice of redemption for the 2019 Notes, which would, subject to the pricing and closing of the Offering, be issued in accordance with the terms of the indenture governing the 2019 Notes.
