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CSIC plans $157m bond issue

CSIC plans $157m bond issue
Beijing: China Shipbuilding Industry Corp (CSIC) has proposed to issue RMB1bn ($157.1m) worth of unsecured medium notes on the interbank market on 28 June.

The bonds, underwritten by China Construction Bank and China International Capital, will have a maturity of five years.

CSIC said proceeds raised from the funds will be used to replenish the company's working capital, in particular the purchase of steel and other materials.