China’s Cosco Shipping plans up to RMB 5 billion five-year notes

By Rebecca Melvin

New York, April 29 – Cosco Shipping Energy Transportation Co., Ltd. plans to issue up to RMB 5 billion of fixed-coupon domestic corporate bonds with a term of up to five years, according to a notice.

The issuance will be completed in one or more tranches, with pricing subject to market conditions.

Proceeds will be used to repay debt and for working capital and project investments.

The issue is subject to shareholder approval.

Cosco is a Shanghai-based shipping company.

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