Seaspan Corporation has signed a framework cooperation agreement with the China Exim Bank for up to $1bn in export credit facilities.
The credit facilities support Seaspan’s purchase of vessels from Chinese shipyards within the next three years.
“With the signing of this framework cooperation agreement, we expect to be able to enhance our financial flexibility and increase our access to growth capital. Consistent with our disciplined strategy, we intend to continue to pursue attractive opportunities to grow our fleet and contracted revenue stream, which currently exceeds $6bn,” said Gerry Wang, chief executive officer of Seaspan.
The credit facilities are subject to approvals by CEXIM, customary closing conditions and the execution of definitive documentation.