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.