Global Ship Lease Announces Results of Excess Cash Flow Offer to Purchase Up to $20 Million of First Priority Secured Notes

In International Shipping News 22/05/2015

Global Ship Lease, Inc. announced the results of the cash tender offer (the “Excess Cash Flow Offer”) to purchase up to $20 million aggregate amount (the “Maximum Offer Amount”) with respect to its outstanding 10.000% First Priority Secured Notes due 2019 (the “Notes”). The Excess Cash Flow Offer expired at 5:00 p.m., New York City time, on May 20, 2015.

The table below sets forth the results of the Excess Cash Flow Offer for the Notes, according to information provided by Global Bondholder Services Corporation, the Information Agent, as of the expiration of the Excess Cash Flow Offer. As the aggregate amount with respect to the Notes validly tendered (and not validly withdrawn) does not exceed the Maximum Offer Amount, all validly tendered Notes (that were not validly withdrawn) have been accepted.

Title
CUSIP Aggregate
Principal Amount
Outstanding Principal Amount of Notes
Tendered and Accepted
10.000% First
Priority Secured
Notes due 2019 Y2718T AA6
37953T AA3 $420,000,000 $350,000

Payment for the validly tendered and not validly withdrawn Notes will be made at a purchase price of 102% of the aggregate principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date (the “Purchase Date”). The Company expects the Purchase Date to be May 22, 2015. The aggregate purchase price, inclusive of accrued and unpaid interest, payable on the Purchase Date for the validly tendered and not validly withdrawn Notes will be approximately $362,000.

Source: Global Ship Lease, Inc.