Global Ship Lease has agreed a US$1 billion syndicated loan facility to finance 15 containership newbuildings scheduled for delivery between late 2028 and 2030. The seven-year facility carries an interest rate of SOFR plus 1.5%. Global Ship Lease intends to draw the financing in tranches as each vessel is delivered. All 15 ships have secured time-charter employment commencing shortly after delivery. Eight banks support Global Ship Lease loan The oversubscribed facility is backed by an eight-bank syndicate. Bank of America serves as bookrunner, mandated lead arranger, facility agent and security agent. Bank of China (Hong Kong), KfW IPEX and ABN AMRO also act as mandated lead arrangers. CTBC and CaixaBank serve as lead arrangers, while BOCOM Hong Kong and First Citizens Bank participate as arrangers. Tassos Psaropoulos, Chief Financial Officer of Global Ship Lease, said the financing further reduces the risk associated with the company’s newbuilding programme while providing competitive terms and diversified lender support. “The oversubscribed facility involves top-tier banks spanning three continents,” said Psaropoulos. He added that matching each loan tranche with vessel delivery and the commencement of its charter provides greater certainty from both cash-flow and risk-management perspectives. According to the company, the facility’s lending margin is 550 basis points lower than the financing terms available to Global Ship Lease five years ago. The post Global Ship Lease secures newbuilding finance appeared first on Container News .