Rochester, NY 8/3/2009 9:20:43 PM
Global Ship Lease, Inc. GSL, Global Ship Lease, Inc made further Updates on Credit Facility
Global Ship Lease, Inc.
Global Ship Lease, Inc. a containership charter owner, make further announcement recently that the company has agreed with the lenders to extend its waiver for loan-to-value tests until July 31, 2009, until such time it expects to finalize an amendment to the $800 million credit facility.
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The Company was initially ask to submit vessel valuations on April 30, 2009 and previously received a waiver until June 30, 2009 due to the challenges in the ship valuation environment. In connection with the agreement, Global Ship Lease will not pay dividends to common shareholders through July 31, 2009 and intends to review its dividend policy at the end of the waiver period.
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