Global Ship Lease locks in $1bn loan for boxship spree

New York-listed containership owner Global Ship Lease (GSL) has secured a $1bn syndicated loan facility to finance its expanding newbuilding programme.

The George Youroukos-led company said the seven-year facility carries an interest margin of just 1.5% over SOFR and will be drawn in stages as its first 15 contracted newbuildings are completed between late 2028 … Menu Containers Europe Finance and Insurance Global Ship Lease locks in $1bn loan for boxship spree Adis Ajdin October 13, 2026 0 168 1 minute read Global Ship Lease Global Ship Lease New York-listed containership owner Global Ship Lease (GSL) has secured a $1bn syndicated loan facility to finance its expanding newbuilding programme.

The George Youroukos-led company said the seven-year facility carries an interest margin of just 1.5% over SOFR and will be drawn in stages as its first 15 contracted newbuildings are completed between late 2028 and 2030.

All 15 vessels have already secured long-term charter employment, allowing the owner to align borrowing with the start of their contracted earnings.

The oversubscribed financing has attracted eight banks, with Bank of America acting as bookrunner, mandated lead arranger, facility agent and security agent.

Bank of China (Hong Kong), KfW IPEX-Bank and ABN AMRO are also mandated lead arrangers, while CTBC and CaixaBank have joined as lead arrangers.

BOCOM Hong Kong and First Citizens Bank complete the lending group.

GSL chief financial officer Tassos Psaropoulos said the agreement secured financing at a margin 550 basis points below what was available to the company five years ago.

In June, the company entered the sector with 10 midsize containerships worth approximately $917m before adding another five for $413m.

The initial 15-vessel programme carries a combined investment of around $1.33bn, with the ships fixed on charters averaging 7.1 years.