Global Ship Lease secures $1 billion syndicated loan at SOFR +1.5%

Global Ship Lease, Inc. (NYSE: GSL), a containership owner and lessor, announced it has agreed to a $1 billion syndicated loan facility carrying an interest rate of SOFR plus 1.5% with a seven-year duration.

The company said it intends to draw on the facility in tranches tied to the delivery of 15 newbuilding vessels announced in June 2026, with scheduled deliveries spanning from late 2028 through 2030. Each vessel is contracted to begin time charter employment upon delivery.

The eight-bank syndicate includes Bank of America as Bookrunner, Mandated Lead Arranger, Facility Agent, and Security Agent. Bank of China (Hong Kong), KfW IPEX, and ABN-AMRO participated as Mandated Lead Arrangers. CTBC and CaixaBank served as Lead Arrangers, while BOCOM (HK) and First Citizens Bank acted as Arrangers. The facility was oversubscribed.

Chief Financial Officer Tassos Psaropoulos stated that the margin on the new facility is 550 basis points below what was available to the company five years ago.

As of June 30, 2026, Global Ship Lease operated a fleet of 71 containerships with an average age of 18.4 years weighted by TEU capacity. Contracted revenue stood at $3.2 billion on a TEU-weighted basis, with a weighted average remaining charter term of 3.3 years. Including options under charterers' control, contracted revenue was $4.1 billion with a weighted average remaining term of 4.4 years.

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