#Senior Notes #Greece #Athens #Securities Act #Danaos Corporation

Danaos Corporation Plans $500 Million Senior Notes Offering

Danaos Corporation, a prominent player in the container shipping industry, has revealed its intention to commence an offering of senior notes valued at up to $500 million, which are scheduled to mature in 2032. This move is largely dependent on prevailing market conditions. The announcement was made on October 6, 2025, signaling a strategic step for the company as it seeks to enhance its financial footing.

Purpose of the Offering

The proceeds from this offering are earmarked for several crucial financial maneuvers aimed at improving the company's liquidity and financial structure. Specifically, Danaos plans to utilize the net proceeds to:

• - Redeem Existing Debt: The company intends to fully redeem its outstanding 8.500% Senior Notes due 2028, which total approximately $262.8 million. This redemption is slated for around March 1, 2026.
• - Repayment of Secured Credit Facilities: Additionally, Danaos will pay off the remaining balances on its secured credit facilities. This includes a $130 million commitment to BNP Paribas/Credit Agricole and a $55.25 million loan from Alpha Bank, both due on December 1, 2025.
• - Cover Transaction Costs: The funds will also be allocated to cover costs, fees, and expenses related to the refinancing process, which could include commissions, financial advisory fees, and other transactional costs.

This strategic move is designed to streamline the company's financial obligations and enhance its operational flexibility moving forward.

Regulatory Note

It is important to note that this offering will be conducted as a private placement, exempt from registration under the U.S. Securities Act of 1933. Consequently, these notes will not be open for public trading unless registered or exempt under applicable state securities laws. Danaos encourages all potential investors to refer to a future notice of redemption that will outline specific conditions associated with the 2028 Notes redemption.

Company Profile

Danaos Corporation stands out in the maritime industry as one of the largest independent owners of modern, large-scale container vessels. The company operates a fleet of 74 container vessels with an aggregate capacity of 471,477 TEUs, alongside 18 additional vessels under construction that will add another 148,564 TEUs. This expansion is pivotal in an industry that continuously seeks efficiency and capacity amid fluctuating global demands.

Moreover, Danaos has recently branched into the dry bulk sector, acquiring ten capesize dry bulk vessels that collectively weigh approximately 1,760,861 DWT. This diversification underscores their commitment to maintaining a robust presence across multiple categories within the shipping industry.

Forward-Looking Statements

Danaos Corporation has included several forward-looking statements in their announcement, highlighting the uncertainties that accompany predictions about the completion, terms, and timing of the notes offering as well as the anticipated use of proceeds. As circumstances evolve, Danaos maintains that their expectations surrounding these qualitative statements may change significantly due to factors beyond their control.

Conclusion

In conclusion, the impending offering by Danaos Corporation represents not only a critical financial maneuver but also a tangible step towards fortifying its position in a competitive maritime landscape. Investors and stakeholders alike are encouraged to monitor the subsequent developments surrounding this initiative closely.

This strategic announcement aligns with Danaos Corporation's ongoing efforts to navigate the complexities of maritime financing while capitalizing on growth opportunities within the industry. As they move forward with this plan, the focus remains on enhancing operational capabilities and maintaining a competitive edge in the global shipping arena.