{"id":19551,"date":"2020-10-16T21:01:50","date_gmt":"2020-10-16T18:01:50","guid":{"rendered":"https:\/\/www.al-sindbad.net\/seaspan-inks-200-million-sustainability-linked-loan\/19551\/"},"modified":"2020-10-16T21:01:50","modified_gmt":"2020-10-16T18:01:50","slug":"seaspan-inks-200-million-sustainability-linked-loan","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/seaspan-inks-200-million-sustainability-linked-loan\/19551\/","title":{"rendered":"Seaspan inks $200 million sustainability-linked loan"},"content":{"rendered":"<p><\/p>\n<p class=\"has-intro-font-size\">Hong Kong-based containership operator\u00a0Seaspan Corporation has closed a $200 million sustainability-linked loan inspired by the Poseidon Principles framework.<\/p>\n<p> The voluntary framework developed by the banking sector aims to accelerate the implementation of the shipping sector\u2019s green agenda in line with the International Maritime Organization&#8217;s (IMO) 2050 decarbonization targets. <\/p>\n<div class=\"section\">\n<div class=\"block block-related-article\">\n<div class=\"card-rich \">\n\t<a href=\"https:\/\/www.offshore-energy.biz\/the-poseidon-principles-can-they-accelerate-the-transition-to-greener-vessels\/\" class=\"card__lazyload card-rich__image\" style=\"background-image: url('https:\/\/cdn.offshorewind.biz\/file\/sites\/6\/2020\/07\/22125445\/Ship-1024x631.jpg')\"><\/p>\n<ul class=\"card-badges\">\n<li class=\"card-badges__item\" aria-label=\"This article is labelled withlong read\">\n\t\t\t\t\t\tlong read\n\t\t\t\t\t<\/li>\n<\/ul>\n<div class=\"card-rich__element card-rich__time-ago\">\n\t\t\t\t<span class=\"screen-reader-text\">Posted:<\/span> 2 months ago\n\t\t\t<\/div>\n<p>\t\t\t<\/a><\/p>\n<div class=\"card-rich__content\">\n<div class=\"card-rich__partner-label\">\n<div class=\"partner-label partner-label--premium\">\n\t\t\t\t\tPremium\n\t\t\t<\/div>\n<\/p><\/div>\n<h3 class=\"card-rich__title\">\n\t\t\t<a href=\"https:\/\/www.offshore-energy.biz\/the-poseidon-principles-can-they-accelerate-the-transition-to-greener-vessels\/\" class=\"card-rich__link\" aria-label=\"Read more about: The Poseidon Principles: Can they accelerate the transition to greener vessels?\"><br \/>\n\t\t\t\tThe Poseidon Principles: Can they accelerate the transition to greener vessels?<br \/>\n\t\t\t<\/a><br \/>\n\t\t<\/h3>\n<div class=\"card-rich__element card-rich__meta\">\n\t\t\t\t\t<span class=\"screen-reader-text\">Categories:<\/span><\/p>\n<ul class=\"card-category-list no-list\">\n<li class=\"card-category-list__item\">Business &amp; Finance<\/li>\n<\/ul><\/div>\n<div class=\"card__element card-rich__time-ago\">\n\t\t\t<span class=\"screen-reader-text\">Posted:<\/span> 2 months ago\n\t\t<\/div>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<p>The $200 million term loan has a tenor of six years and is part of the company&#8217;s expanded financing program.<\/p>\n<p>The program is comprised of a $300 million revolving credit facility and approximately $1.5 billion of term loan commitments, with staggered maturities between 2024 and 2026. <\/p>\n<p>Seaspan plans to used the new loan to pay down the revolving credit facility.<\/p>\n<p><em> \u201cOur execution of the SLL marks the first sustainability-linked financing in the containership leasing space and aligns Seaspan\u2019s long-standing commitment to sustainability with our capital structure strategy,&#8221; <\/em><strong>Bing Chen<\/strong>, Chief Executive Officer and Interim Chief Financial Officer of Atlas said.<\/p>\n<p><em>&#8220;Further, our team has been consistently executing on quality growth and capital structure improvement through a difficult period for the global capital markets.&#8221;<\/em><\/p>\n<p>The loan&#8217;s pricing is adjusted based on Seaspan\u2019s achievements measured against two key performance indicators. <\/p>\n<p> The first aims at measuring the alignment of the carbon intensity of the collateral vessels with the IMO&#8217;s 2050 decarbonization trajectory.  <\/p>\n<p> The second aims at fostering cooperation with charterers in order to advance the decarbonization agenda, by seeking to include sustainability-linked provisions in future charter contracts. <\/p>\n<p> Seaspan said the loan was fully underwritten by Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and BNP Paribas as mandated lead  arrangers, underwriters and bookrunners, with Soci\u00e9t\u00e9 G\u00e9n\u00e9rale acting as the sole sustainability coordinator. <\/p>\n<p> Seaspan\u2019s fully delivered fleet consists of 127 containerships, representing a total capacity of approximately 1,073,000 TEU.  <\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.offshore-energy.biz\/seaspan-inks-200-million-sustainability-linked-loan\/\">Seaspan inks $200 million sustainability-linked loan<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.offshore-energy.biz\">Offshore Energy<\/a>.<\/p>\n<p>world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong-based containership operator\u00a0Seaspan Corporation has closed a $200 million sustainability-linked loan inspired by the Poseidon Principles framework. The voluntary framework developed by the banking sector aims to accelerate the implementation of the shipping sector\u2019s green agenda in line with the International Maritime Organization&#8217;s (IMO) 2050 decarbonization targets. long read Posted: 2 months ago Premium &hellip;<\/p>\n","protected":false},"author":1,"featured_media":19552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1506,1380,1291,375,2067],"class_list":["post-19551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-inks","tag-loan","tag-million","tag-seaspan","tag-sustainabilitylinked"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/19551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=19551"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/19551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/19552"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=19551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=19551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=19551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}