Seaspan Issues 1.5 Billion Yuan Panda Bond in China
Maritime asset owner and operator Seaspan has issued a RMB 1.5 billion (approximately EUR 200 million) Panda Bond in China's domestic market. This makes the company the first international ship owner and operator to access China's onshore bond market.
Seaspan Corporation Pte. Ltd., an independent maritime asset owner and operator, has successfully issued a RMB 1.5 billion (approximately EUR 200 million) Panda Bond in China's domestic bond market. The three-year note was a private placement.
The issuance makes Seaspan the first international ship owner and operator to successfully access China's onshore bond market. The company aimed to enhance its liquidity and broaden its sources of financing.
Panda bonds are yuan-denominated debt securities issued in mainland China by non-Chinese entities. They allow foreign companies to raise capital from within China's domestic financial markets.
Seaspan is one of the world's largest independent owners and operators of maritime assets, managing a fleet of container vessels and bulk carriers.