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Seaspan boosts war chest with eye on Greater China International takeover
Seaspan continues to build its war chest with an eye on taking over the Greater China International fleet.
Yesterday it announced plans for a $225m offering of 7.875% perpetual preferred shares in New York.
As well as general corporate purposes and funding newbuilds, the Gerry Wang-led Seaspan said the new funds could be used to buy more into Greater China International.
Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $33.75m of the same shares. All shares are priced at $25 each.