Chicago, April 19 – Xiamen International Port Co., Ltd. has issued a first tranche of medium-term notes in the amount of RMB 1.2 billion with a 3.65% interest rate and a three-year tenor, according to an announcement.
The company has registered to issue up to RMB 4 billion of notes between Nov. 9, 2020 and Nov. 8, 2022.
Underwriters for the offering are Industrial Bank Co., Ltd. and China Construction Bank Co., Ltd.
Proceeds will be used to repay the 2018 first tranche of corporate bonds, which are immediately due.
Proceeds from notes issued under the program can generally be used to satisfy working capital needs or adjust the corporate debt structure.
The Xiamen, China-based company is mainly engaged in the provision of port logistics services and commodity trading services, as well as the sale of construction materials.
| Issuer: | Xiamen International Port Co., Ltd.
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| Issue: | Medium-term notes
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| Amount: | RMB 1.2 billion
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| Tenor: | Three years
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| Bookrunners: | Industrial Bank Co., Ltd. and China Construction Bank Co., Ltd.
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| Coupon: | 3.65%
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| Settlement date: | April 19
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