Danaos Corporation Announces Senior Notes Offering

Core Points - Danaos Corporation plans to offer up to $500 million of Senior Notes due 2032, subject to market conditions [1] - The net proceeds from the offering will be used to redeem $262.8 million of 8.500% Senior Notes due 2028, repay $130 million and $55.25 million under secured credit facilities, cover refinancing costs, and for general corporate purposes [2] Company Overview - Danaos Corporation is one of the largest independent owners of modern, large-size container vessels, with a fleet of 74 container vessels totaling 471,477 TEUs and 18 vessels under construction totaling 148,564 TEUs [5] - The company has also recently expanded into the drybulk sector by acquiring 10 capesize drybulk vessels with a total of 1,760,861 DWT [5]