China’s Dalian Port gets go-ahead for RMB 1 billion three-year bonds

By Marisa Wong

Madison, Wis., July 31 – Dalian Port (PDA) Co. Ltd. said its board of directors approved the issuance of an up to RMB 1 billion of three-year bonds in a single tranche.

In June the company had proposed up to RMB 1 billion of three- to five-year bonds in the overseas market, as previously reported.

The company said previously it is pursuing the issuance given favorable policies and interest rates in the overseas capital markets, and it is looking to further reduce financing costs and gain flexibility in raising funds.

The proposed issuance has been approved by the company’s shareholders.

The Dalian City, China-based company owns and manages the Port of Dalian.

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