Danaos Corporation announced the consummation of its previously announced $1.25 billion refinancing of a substantial majority of its outstanding senior secured indebtedness. On April 12, 2021, the Company refinanced all of the outstanding indebtedness, which aggregated $1.3 billion as of December 31, 2020, under nine of the company’s senior secured credit facilities, with the proceeds from a $815 million senior secured credit facility with Citibank N.A. and National Westminster Bank plc who have been lenders to the company for more than 30 years, a $135 million sale leaseback agreement with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co. Ltd., with respect to five vessels, and the net proceeds of the company’s February 2021 offering of $300 million of 8.500% Senior Secured Notes due 2028.