Seaspan Corp expects to save hundreds of millions of dollars over five years through a major debt restructuring announced yesterday.
The New York-listed owner closed a $1bn portfolio financing programme made up of a $200m revolving credit facility and an $800m term loan facility.
Seaspan will put $128m toward the loans, set to pay off 12 credit facilities, over two years and another $240m through 2024 before rolling them into a new loan, which will assume the $400m in debt.
