January 3, 2018 / 9:53 PM / 16 days ago

BRIEF-Seaspan Says Fairfax Financial To Invest In Co For Issuance Of 5.5% Interest Bearing Unsecured Debentures, Share Purchase Warrants

Jan 3 (Reuters) - Seaspan Corp:

* SEASPAN ANNOUNCES LETTER OF INTENT FOR POTENTIAL $250 MILLION UNSECURED 5.50% DEBENTURE AND WARRANT INVESTMENT FROM FAIRFAX FINANCIAL HOLDINGS LIMITED

* SEASPAN - FAIRFAX FINANCIAL TO INVEST IN CO FOR ISSUANCE OF 5.5% INTEREST BEARING UNSECURED DEBENTURES, CLASS A SHARE PURCHASE WARRANTS

* SEASPAN - INTENDS TO USE PROCEEDS FROM $250 MILLION INVESTMENT TO FUND FUTURE GROWTH INITIATIVES, DEBT REPAYMENT

* SEASPAN - FAIRFAX MAY NOMINATE 1 INDEPENDENT DIRECTOR TO CO‘S BOARD IF LESS THAN 50%, BUT OVER 20%, OF DEBENTURES REMAIN OUTSTANDING

* SEASPAN-‍FAIRFAX WILL HAVE RIGHT TO NOMINATE TWO INDEPENDENT DIRECTORS TO BOARD OF DIRECTORS OF CO FOR SO LONG AS 50% OF DEBENTURES REMAIN OUTSTANDING​ Source text for Eikon: Further company coverage:

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