Canada’s Seaspan Corp is offering bondholders cash to avoid having to buy back its $300m series due in 2026.

The world’s largest container ship tonnage provider has called a meeting of investors in the 6.5% tranche to amend the terms as part of its takeover by existing owners including Fairfax Financial Holdings and the Washington family.

The company, part of US-listed Atlas Corp, wants to remove the de-listing clause on the bond.