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 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.