Seaspan Announces Revised Amendment Terms for Bondholders' Meeting
Seaspan Corporation, a subsidiary of Atlas Corp, has revised the summons for a bondholders' meeting regarding its senior unsecured bonds maturing in April 2026. This decision follows Atlas's announcement on November 1, 2022, about its acquisition by Poseidon Acquisition Corp. The bondholders' meeting is scheduled for December 16, 2022, at 13:00 CET. DNB Markets is acting as the financial advisor for Seaspan. The company continues to focus on long-term leases with major container shipping lines, boasting a fleet capacity of 1,919,230 TEU upon full delivery.
- Seaspan's fleet consists of 129 vessels with a total capacity of 1,180,230 TEU, with 61 additional vessels under construction, boosting total capacity to 1,919,230 TEU.
- The bondholders' meeting might reflect concerns surrounding the acquisition proposal by Poseidon Acquisition Corp.
LONDON, Dec. 13, 2022 /PRNewswire/ -Seaspan Corporation ("Seaspan" or the "Company") a wholly owned subsidiary of Atlas Corp. ("Atlas"), has today instructed Nordic Trustee to make certain revisions to the summons to bondholders' meeting for the Company's senior unsecured bonds maturing in April 2026 (ISIN NO 0010981939) as announced on December 1, 2022. The revisions are set out in the attachment to this press release. The date and time for the bondholders' meeting will remain unchanged at December 16, 2022, at 13:00 hours CET.
The background for the amendment proposal is the announcement by Atlas on November 1, 2022 that Atlas will be acquired by Poseidon Acquisition Corp. An investor presentation has been prepared for the amendment proposal and can be found on the Atlas website under Events & Presentations at https://ir.atlascorporation.com/events-and-presentations.
DNB Markets is acting as financial advisor to Seaspan.
About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. For more information visit atlascorporation.com.
About Seaspan
Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world's largest container shipping liners. As at September 30, 2022, Seaspan's operating fleet consisted of 129 vessels with a total capacity of 1,180,230 TEU, and an additional 61 vessels under construction, increasing total fleet capacity to 1,919,230 TEU, on a fully delivered basis. For more information, visit seaspancorp.com.
Cautionary Note Regarding Forward-Looking Statements
This statement and the materials referenced herein contain certain forward-looking statements concerning future events, including the transaction giving rise to the Amendment Proposal. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Seaspan believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in the general economic, political and market conditions in the markets in which Seaspan operates and changes in laws and regulations. Such risks, uncertainties, contingencies, and other important factors include, but are not limited to, the possibility that the transaction giving rise to the Amendment Proposal may not be completed and could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. Seaspan and its respective affiliates expressly disclaim any obligation or undertaking to update, review or revise any statement contained in this announcement whether because of new information, future developments or otherwise.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange notice was published by Peter Li, Associate General Counsel of Seaspan Corporation on 13 December 2022 at 5:30 pm CET.
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SOURCE Atlas Corp.
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