An 8% Baby Bond Yield From Global Ship Lease With Smooth Sailing Ahead
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}(window));Seeking AlphaDividend Ideas | Editors' Picks | United KingdomAn 8% Baby Bond Yield From Global Ship Lease With Smooth Sailing AheadFeb. 11, 2020 1:27 PM ET|| About: Global Ship Lease, Inc. (GSL), GSL.PB, GSLD, Includes: CMRE, CMRE.PD, DLNG, RILY, RILYH, SSW, SSW.PD, SSWAby: Richard LejeuneRichard Lejeune Deep Value, dividend investing, micro-cap, newsletter providerMarketplacePanick High Yield ReportSummaryGSL is a far stronger company than it was a couple of years ago.
GSL is now solidly profitable and profitability has been locked in through 2020 with favorable long-term leases.
The balance sheet has been strengthened by a merger, equity capital raise and very favorable containership leasing rates.
Refinancing high-cost legacy debt will further increase profitability and enable a common stock dividend to be reinstated shortly.
The baby bonds, preferred stock and common stock all appear to be bargains at current prices.
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