Yang Ming Offering Brings Maritime Sector 2017 Capital Raise to $7.1 billion — Panjiva
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Yang Ming Offering Brings Maritime Sector 2017 Capital Raise to $7.1 billion

Corp - Shipping 1026 Financing 115 Global 1391 Mode - Containerized 1524 Mode - Seaborne 1845

Container line Yang Ming completed approval for an equity capital increase that grew its share count by 17% and raised $87 million in new equity. On the basis of its latest financial report that is hardly transformative, cutting its net debt vs. capital ratio to 77% from 80%. That leaves it still the most heavily indebted container-line. The deal brings the total raised this year in the maritime sector to $7.1 billion, 47% higher than a year earlier and the largest since 2014. With only a few weeks of the year left, significant new deals are unlikely to complete during 2017.

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