Danaos Corporation announced its intention to commence an offering of up to $500 million of Senior Notes due 2032. This private offering is subject to market conditions and other factors, aiming to optimize the company's debt structure.
The net proceeds from this offering are intended to be used for several key financial objectives. These include the full redemption of the $262.8 million outstanding principal amount of the company's 8.500% Senior Notes due 2028, expected on or about March 1, 2026.
Additionally, Danaos plans to repay in full the outstanding principal amounts under its BNP Paribas/Credit Agricole $130 million Secured Credit Facility and its Alpha Bank $55.25 million Secured Credit Facility, both scheduled for December 1, 2025. The remaining proceeds will cover refinancing costs and general corporate purposes, enhancing the company's financial flexibility.
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