China's Xiamen Port board approves RMB 700 million one-year notes

By Jennifer Chiou

New York, Oct. 26 - Xiamen Port Development Co., Ltd. announced that its board of directors has approved the proposed issue of RMB 700 million of notes with a one-year term in China.

The interest rate will be fixed at a later time.

Proceeds will be used for general working capital.

The Xiamen, China-based company is principally engaged in the provision of port logistics services, trading services of commodities, as well as the sale of construction materials.

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