Shearman & Sterling advised Citigroup Global Markets and Clarksons Platou Securities, as joint book-running managers, on Global Ship Lease's high yield notes offering of $360 million, 9.875% first priority secured notes due 2022. The notes are guaranteed on a senior secured basis by Global Ship Lease and all of its vessel owning subsidiaries. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on October 31, 2017.   

The proceeds from this offering have been used primarily to redeem Global Ship Lease’s existing notes, existing revolving credit facility, existing term loan and to pay the associated redemption premium and accrued interest. Global Ship Lease is a containership lessor and a subsidiary of CMA CGM, the world's third largest containership liner. 

The Team