Global Ship Lease (GSL) has sold $350m in debt to square away a loan coming due in 2026.

The Ian Webber-led owner of 65 containerships has offered the senior secured notes, which carry a 5.69% coupon rate, to a limited number of accredited investors in a private placement.

The London-based company backed the notes with first-priority mortgages on 20 vessels in its fleet and other assets, contract rights and company shares.