Danaos Corporation announced the pricing of its offering of $500 million of 6.875% Senior Notes due 2032. This private offering is a key step in the company's strategy to optimize its debt profile and reduce financing costs.
The net proceeds from the offering are intended to redeem in full the $262.8 million outstanding principal amount of the company's 8.500% Senior Notes due 2028, on or about March 1, 2026. This move is expected to lower the company's overall interest expense.
Furthermore, Danaos plans to repay 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 by December 1, 2025. The offering is expected to close on or about October 16, 2025, subject to customary closing conditions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.