Fairfax To Raise Total Investment In Seaspan To $1 Bln - Quick Facts

(RTTNews) - Seaspan Corp. (SSW) announced that Fairfax Financial Holdings Limited, through certain subsidiaries, has entered into a definitive agreement to invest an additional $500 million of equity in Seaspan through the exercise of two tranches of warrants, increasing Fairfax's total investment in Seaspan to $1 billion.

David Sokol, Chairman of Seaspan, said: "The cumulative investment of $1 billion from Fairfax will significantly strengthen Seaspan's balance sheet, significantly improve access to capital and accelerate our progress toward achieving an investment grade credit rating."