Ship Finance International Limited (“Ship Finance” or the “Company”) has entered into lease financing agreements (each, a “Lease Financing”) totaling $270 million with an Asian-based institution to finance three 10,600 TEU container vessels acquired in 2018. The vessels are employed under long term time charters to Maersk Line until 2024, with options to extend the charters by up to four additional years.
Each Lease Financing has a term of more than 10 years, with an option to purchase the...