LONDON, Aug. 16,
2021 /PRNewswire/ - Seaspan Corporation, a wholly
owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today
announced its intention to redeem all of its remaining 5.50% senior
notes held by certain affiliates of Fairfax Financial Holdings
Limited ("Fairfax"), including $250
million of 5.50% senior notes due 2025 (the "2025 Notes")
and $50 million of 5.50% senior notes
due 2026 (the "2026 Notes" and together with the 2025 Notes, the
"Fairfax Notes"), for cash on August 23,
2021 (the "Redemption Date"). The redemption price per
Fairfax Note will be equal to $1,000.00 plus all accrued and unpaid interest
thereon from and including July 30,
2021 to the Redemption Date.
Graham Talbot, CFO of Atlas,
commented, "We are very appreciative of our partnership with
Fairfax and the strong support they have provided. The investments
made by Fairfax have helped to strengthen the company and create
the significant momentum in the business that we have today. The
redemption of these notes reflects Fairfax's continuing support as
we mature and diversify Atlas' global investor base and increase
access to capital market opportunities. This is also a further step
in our ongoing efforts to simplify and optimize our capital
structure."
About Atlas
Atlas is a leading global asset management company,
differentiated by its position as a best-in-class owner and
operator with a focus on deploying capital to create sustainable
shareholder value. Atlas brings together an experienced asset
management team with deep operational and capital allocation
experience. We target long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Our two portfolio
companies, Seaspan Corporation and APR Energy Ltd. are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively. For more information, visit
atlascorporation.com.
About Seaspan
Seaspan is a leading independent owner and operator of
containerships. We charter our vessels primarily pursuant to
long-term, fixed-rate charters to the world's largest container
shipping liners. Seaspan's fully delivered fleet consists of 186
containerships, representing total capacity of approximately
1,854,200 TEU. Seaspan's fully delivered fleet of vessels has an
average age of approximately four years and an average remaining
lease period of approximately seven years, on a TEU-weighted basis.
For more information, visit seaspancorp.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates", "projects",
"forecasts", "will", "may", "potential", "should", and similar
expressions are forward-looking statements. These forward-looking
statements reflect management's current expectations only as of the
date of this release. As a result, you are cautioned not to rely on
any forward-looking statements. Although these statements are based
upon assumptions that we believe to be reasonable based upon
available information, they are subject to risks and uncertainties.
These risks and uncertainties include, but are not limited to the
factors detailed from time to time in our periodic reports and
filings with the SEC, including Atlas's Annual Report on Form 20-F
for the year ended December 31, 2020,
filed with the SEC on March 19, 2021.
We expressly disclaim any obligation to update or revise any of
these forward-looking statements, whether because of future events,
new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance
of any of our securities.
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SOURCE Atlas Corp.