China’s Cosco Shipping submits new note offering to shareholder vote

Chicago, June 7 – Cosco Shipping Energy Transportation Co., Ltd. will have shareholders vote on a potential upcoming issue of RMB 5 billion of fixed-coupon domestic corporate bonds for a maximum term of five years at its upcoming annual general meeting, according to a notice.

The meeting will be held on June 29.

The company’s board has already approved the proposed new issue.

Proceeds will be used to repay existing corporate bonds and for working capital and project investments.

Cosco is a Shanghai-based shipping company.

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