Seaspan issues RMB 1.5 billion Panda Bond

Seaspan Corporation, a leading independent maritime asset owner and operator, successfully issued a RMB 1.5 billion (approximately $210 million) Panda Bond in China's domestic bond market. The three-year private placement note, issued on July 15, 2026, carries a coupon rate of 2.50% per annum and was oversubscribed with a book coverage ratio of 2.3 times. This transaction marks the first time an international ship owner and operator has accessed the Panda Bond market, establishing a new funding channel for Seaspan. The issuance supports Seaspan's strategy to diversify its capital sources and broaden access to unsecured debt, strengthening its ability to invest in its fleet and pursue growth opportunities. CFO Andreas Brauch highlighted the confidence investors have in Seaspan's credit quality and business model, and noted that expanding access to China's domestic capital markets improves access to cost-efficient capital. The Panda Bond issuance is a significant milestone in Seaspan's participation in Chinese capital markets, where it has strategic partnerships across chartering, shipbuilding, financing, and maritime services.