Oct 2020
Conyers advised Global Container International LLC (“GCl”), in connection with the issuance of $US244.5 million of fixed rate asset backed bonds secured by marine cargo containers, by its subsidiary GCI Funding I LLC. The Series 2020-1 Class A and Class B bonds were rated A(sf) and BBB(sf), respectively, by both DBRS, Inc. and Kroll Bond Rating Agency. The Series 2020-1 Notes represent the inaugural asset-backed security transaction sponsored by GCI. Deutsche Bank Securities acted as Sole Structuring Agent and Lead Bookrunner and Credit Suisse acted as Joint Bookrunner.
The Notes were offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act.
Director Neil Henderson, Counsel Angela Atherden and Associate Amber Wilson advised on this matter alongside Sidley Austin LLP.