Seaspan raises US$206.3M in first-ever Panda Bond by a global ship operator
What's the deal? Seaspan CorporationDealroom has a profile for this one. Try Dealroom → has raised US$206.3M through a three-year Panda Bond issued in China's domestic market. The private placement note was issued on 15 July 2026 and carries a 2.50% annual coupon.
Why now? The offering was oversubscribed, with a book coverage ratio of 2.3 times, drawing Chinese onshore and international investors. The financing diversifies Seaspan's access to unsecured debt and supports investment in its fleet and future growth.
Seaspan operates maritime assets under long-term, fixed-rate leases to major shipping lines. Its operating fleet comprised 247 vessels as of 30 June 2026, with total capacity of approximately 2.5 million TEU on a fully delivered basis.
The signal: The issuance makes Seaspan the first international ship owner and operator to access China's Panda Bond market, opening a new source of potentially cost-efficient capital for the company.
Image credit: Seaspan Corporation
Read more: Newswire Canada
