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News Aug 20, 2014

Shearman & Sterling Advises Underwriters on Global Ship Lease, Inc.’s $35 Million Retail Preferred Offering

Shearman & Sterling represented Morgan Stanley & Co. LLC as sole bookrunning manager and Ladenburg Thalmann & Co. Inc. and National Securities Corporation as co-managers in connection with Global Ship Lease, Inc.’s $35,000,000 retail preferred offering. The offering consisted of 1,400,000 depositary shares (the “Depositary Shares”) at a price of $25.00 per Depositary Share. The Depositary Shares in aggregate represent 14,000 shares of the 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares.

Global Ship Lease, Inc. is a containership charter owner incorporated in the Marshall Islands, which commenced operations in December 2007 with a business of owning and chartering out containerships under long-term, fixed-rate charters to top-tier container liner companies.

Shearman & Sterling’s team of lawyers in the firm’s London office had represented the initial purchasers in Global Ship Lease, Inc.’s $420 million inaugural high yield notes offering in March 2014.

The Shearman & Sterling team advising the underwriters in this offering included: partners Robert Evans (New York Capital Markets) and Douglas McFadyen (New York Tax) and associates Thaddeus Pitney (New York Capital Markets), Flavio Averbug (New York Capital Markets), Vivian Choi (New York Capital Markets), Ryan Roberts (New York Tax) and Laura Mulry (New York Real Estate).