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Global Ship Lease, Inc. Message Board

sfi_watcher 2 posts  |  Last Activity: Mar 12, 2014 2:42 PM Member since: Jan 4, 2009
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  • Reply to

    400 m notes offering - it's Ba-ack.

    by foo_star Mar 10, 2014 8:47 AM
    sfi_watcher sfi_watcher Mar 12, 2014 2:42 PM Flag

    yeah but depreciation is a noncash item so using your numbers, free cash flow will be 12.5m per quarter... original question was around the impact to cash flow of this refi, and I think the answer is that the refi is cash flow positive to the tune of $16m/yr (ballpark).

  • Reply to

    400 m notes offering - it's Ba-ack.

    by foo_star Mar 10, 2014 8:47 AM
    sfi_watcher sfi_watcher Mar 12, 2014 2:15 PM Flag

    rofflecopters, where do you see that "mandatory amortization" will be $40m/yr after this notes offering is complete? Typically these notes would be interest-only until maturity. If that's the case, then this offering will actually free up quite a bit of cash flow (currently $18m interest + $40m amort = $58mm/yr, becomes $42mm interest - $16mm newly available cash flow per yr).

GSL
3.80-0.04(-1.04%)Jul 10 4:02 PMEDT

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