Seaspan to Increase its Pool of Unencumbered Assets to 37 Vessels

Seaspan Corporation (Seaspan) (NYSE: SSW) announced that it has partially prepaid two credit facilities.

Upon completion of all collateral release documentation, this will expand Seaspan's pool of unencumbered vessels to 371, from 32 as reported in January, 2019.

Ryan Courson, Chief Financial Officer of Seaspan, commented, "We continue to execute on our near-term capital strategy to strengthen our balance sheet by deleveraging, increasing our unencumbered fleet, and consolidating our secured credit facilities."

Pro forma Unencumbered Asset Pool *
TEU Class	Vessel Count
2500	12
3500	2
4250	17
8500	2
9600	2
10000	2
Total	37

(*) Includes vessels securing debt prepaid on March 25, 2019, and for which collateral release documentation is pending.