Evergreen Issuance Brings Marine Capital Raise to $7 Billion in 2017 — Panjiva
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Evergreen Issuance Brings Marine Capital Raise to $7 Billion in 2017

Corp - Shipping 1025 Financing 115 Global 1391 Mode - Containerized 1523 Mode - Seaborne 1845

Container-line Evergreen Marine will raise $253 million of new equity capital, implementing an August board decision. That adds 14% to the company’s share county, and is being done at a 15% discount to the latest closing share price. The raise follows $2.93 billion raised by COSCO Shipping, Hapag-Lloyd and Hyundai Merchant Marine in the past three months. Evergreen will use to money to repay debt, so its gearing (debt vs. capital) should fall from 55% to 49%, below the sector average of 53%. Yang Ming and three Japanese shippers may be next to raise capital given their gearing was above ...

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