Global Ship Lease to mandatorily redeem some 9 7/8% notes due 2022

By Taylor Fox

New York, Nov. 30 – Global Ship Lease, Inc. has sent notice of mandatory partial redemption of its 9 7/8% first priority secured notes due 2022 to noteholders as of Nov. 26, according to a news release.

Global Ship is mandatorily redeeming $28 million of the notes at a redemption price of 102 plus interest on Dec. 7.

Notes and portions of notes selected for redemption will be in principal amounts of $200,000 or integral multiples of $1,000 in excess of $200,000.

All redeemed notes must be surrendered to the paying agent to collect the redemption price plus accrued interest.

Upon completion of the mandatory partial redemption, $233,436,000 of the notes will remain outstanding.

Citibank, NA is the trustee and registrar.

Global Ship Lease is a containership charter owner based in London.

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