Seaspan Corp 8% Series I Fixed-to-Floating Rate Cumulatie Redeemable Perpetual Preferred Shares

By: ,

Date Issued  9/12/2018

Shares Issued  6,000,000   Overallotment Shares  0

S&P Rating   NR   Moodys Rating   NR


Security Ticker Symbol   SSW-I     OTC Ticker  SSWPP

Market Traded ON   NYSE

Dividend Payment Paid on the 30th of January, April, July and October beginning on 10/30/2018

Quarterly Dividend   .50   Annual Dividend   2.00

Securities may be redeemed, at the issuers option, as early as 10/30/2023 for a redemption price of $25/share plus accrued dividends

Dividend will be fixed at 8% until 10/30/2023 after which point it will float at a rate of 3 month Libor plus a spread of 5.008%

Dividend Payment Likely Will be a Qualified Distributions

Maturity Date   None



Click Here for the offering Prospectus and/or Final Pricing Document


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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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