Simpson Thacher recently represented Global Ship Lease, Inc. (“GSL”) in connection with a Rule 144A/Regulation S offering of $420 million aggregate principal amount of 10.000% First Priority Secured Notes due 2019. GSL used the proceeds from the offering to repay borrowings under its existing credit facility, to terminate its existing interest rate swap agreements and for general corporate purposes. The offering closed March 19, 2014.
GSL, a Marshall Islands company, is a containership lessor with a fleet of high-quality containerships, which it charters out under fixed rate and primarily longer term charters.
The Simpson Thacher team for the transaction included Lesley Peng, Will Golden, John Freese and Charlie Mathes (Capital Markets), Andrew Purcell and Joseph Tootle (Tax), Scott Mathias (Executive Compensation), Mike Isby (Environmental), and Janet Nadile and Jonathan Pall (Collateral).