Seaspan issues RMB 1.5 billion Panda Bond at 2.50% coupon
The three-year private placement note, issued on July 15, 2026, was 2.3 times covered and made Seaspan the first international ship owner and operator to access China's domestic Panda Bond market.
Seaspan Corporation Pte. Ltd. said it completed a RMB 1.5 billion Panda Bond in China's domestic bond market, with the three-year private placement note issued on July 15, 2026 at a 2.50% annual coupon and oversubscribed 2.3 times by Chinese onshore and international investors. The company said the deal makes Seaspan the first international ship owner and operator to successfully access the Panda Bond market, adding a funding channel that broadens access to unsecured debt and cost-efficient capital for fleet investment, growth opportunities and long-term value creation. Chief Financial Officer Andreas Brauch said the issuance reflects investor confidence in Seaspan's credit quality, business model, financial profile and sustainable growth strategy. Seaspan added that the financing builds on its participation in Chinese capital markets and maritime partnerships; as of June 30, 2026, it said its operating fleet totaled 247 vessels, pro forma for undelivered newbuilds, with about 2.5 million TEU of capacity on a fully delivered basis.
- Panda Bond: A renminbi-denominated bond issued by a foreign issuer in China's domestic bond market.
- TEU: Twenty-foot equivalent unit, the standard measure of container shipping capacity.
- Private placement note: A debt security sold to a limited group of investors rather than through a public offering.