Global Ship Lease (GSL) underwriters have exercised the full option on some unsecured notes, bringing the total offer to $29.7m after paying underwriting discounts, commissions and offering expenses.

The Ian Webber-led company announced Monday that it has issued an additional $4.13m in 8% notes due 2024, related to a 27 November offer.

The New York-listed GSL plans to use the offering's net proceeds to repay part of its 9.875%