SINGAPORE: First Ship Lease (FSL) Trust said on Monday that it intends to offer up to US$200 million worth of senior notes due in 2016.

The proceeds from the issuance of the notes will be used by FSL Trust to repay existing debt, fund future vessel acquisitions and for its general corporate purposes.

This is the latest fund-raising exercise by FSL Trust.

In September, it said it raised US$41 million via a private placement. Some 80 million new units were allotted and issued at the price of 52 and a half US cents per new unit.

- CNA/sc