Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

COSCO shores up working capital

COSCO shores up working capital

Hong Kong: China COSCO Holdings Co Ltd, the largest shipping company in the country, has announced that it will issue RMB 5 billion in ten-year notes on the interbank market tomorrow. The company said in a statement that this batch of notes will be issued at face value and the coupon rate. The notes will become tradable on September 7, 2010.?50% of the proceeds from the issue will be used to pay back bank loans and the remaining 50% will be used to replenish working capital, according to the firm. China Lianhe International Credit Rating Co Ltd has rated the notes and the issuer as AAA and AAA, respectively. [02/09/10]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish