Seaspan says it has a letter of intent for a $250m cash infusion from Fairfax Financial Holdings as part of its ongoing recapitalisation efforts.
The Vancouver-based containership lessor says it will offer Fairfax 5.5% unsecured debentures and warrants for its common stock.
The debentures will mature in seven years. Seaspan will be able to call the debentures at face value plus all accrued interest after the fifth anniversary of issuance.
