Seaspan Announces $235.3m in Debt Financing

Seaspan Corporation has entered into a credit agreement for a term loan facility in the amount of $235.3m to finance the acquisition of two of its previously acquired 13100 TEU vessels. The facility has been fully underwritten by Sumitomo Mitsui Banking Corporation at a weighted average rate of 0.70% over LIBOR. Since January of 2007, Seaspan has raised more than $2.2b of debt at a weighted average margin of less than 0.60% in support of its strong growth initiatives.