China’s Cosco Shipping board approves up to RMB 8 billion bonds

By Wendy Van Sickle

Columbus, Ohio, July 17 – Cosco Shipping Development Co., Ltd.’s board of directors approved an issuance of up to RMB 8 billion of corporate bonds in one or more tranches, according to a notice.

The fixed-rate bonds will have a term of not more than 10 years.

The bonds will be sold at par.

Proceeds will be used to repay debt.

The issuer is a Shanghai-based ship leasing and transportation company.

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