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China Shipping Group eyes $407m from bond market

China Shipping Group eyes $407m from bond market
China Shipping Group (CSG) is eyeing to raise RMB2.5bn ($407m) from short-term notes to replenish its working capital.

The state-shipping group will isse unsecured paper with a maturity of 180 days in the domestic market on Thursday.

The coupon rate will be determined during the book-building process.

The latest move by CSG marks the conglomerate's third bond issuance this year. In March, it had raised RMB1bn through a short-term debt sale.