SeaCastle Sets IPO Terms

SeaCastle Inc., a Wilmington, Del.-based lessor of intermodal equipment used in global containerized cargo trade, has set its IPO terms to 20 million common shares being offered at between $15 and $17 per share. It plans to trade on the NYSE under ticker symbol SC, with Bear Stearns serving as lead underwriter. It would have an initial market cap of approximately $2.2 billion, were it to price at the high end of its range. Fortress Investment Group holds a 97.4% ownership position, pre-IPO.