Danaos Corporation Announces Pricing of Senior Notes Offering

Core Viewpoint - Danaos Corporation announced the pricing of its offering of $500 million of 6.875% Senior Notes due 2032, which will be sold in a private offering exempt from registration under the U.S. Securities Act of 1933 [1] Group 1: Use of Proceeds - The company intends to use the net proceeds from the offering to redeem the $262.8 million outstanding principal amount of its 8.500% Senior Notes due 2028 on or about March 1, 2026 [2] - The proceeds will also be used to repay the outstanding principal amount under its BNP Paribas/Credit Agricole $130 million Secured Credit Facility on December 1, 2025 [2] - Additionally, the company plans to repay the outstanding principal amount under its Alpha Bank $55.25 million Secured Credit Facility on December 1, 2025 [2] - The funds will cover costs, fees, and expenses related to the refinancing, including commissions, placement, financial advisory fees, and other transaction costs [2] - Remaining proceeds will be allocated for general corporate purposes [2] Group 2: Company Overview - Danaos Corporation is one of the largest independent owners of modern, large-size container vessels, with a current fleet of 74 container vessels aggregating 471,477 TEUs and 18 under construction vessels aggregating 148,564 TEUs [5] - The company ranks among the largest container vessel charter owners globally based on total TEU capacity [5] - Recently, Danaos Corporation has invested in the drybulk sector by acquiring 10 capesize drybulk vessels aggregating 1,760,861 DWT [5]