Global Ship Lease is taking out a $37m loan to finance the acquisition of three Zeaborn-managed boxships.
The New York-listed Ian Webber-led owner disclosed the deal with Hellenic Bank after the close Friday, according to Securities and Exchange Commission filings. It will pay for a good chunk of the $48.5m swoop for a trio of 7,849-teu ships built 2004 announced 23 May.
Then, the company said the new ships would generate adjusted Ebitda of $32m for the median firm period and as much as $47m if all the options are exercised.
The loan is available in three tranches, each due 2024 or on the five year anniversary of the use of the tranche, whichever is earlier.
It comes with an interest rate of Libor plus a margin of 3.9% payable quarterly.
This story has been amended since publication to reflect that the vessels are managed, not owned, by Zeaborn.
