CSSC (Hong Kong) Shipping plans dollar bond offering

By Rebecca Melvin

New York, Feb. 4 – CSSC Capital 2015 Ltd., a subsidiary of CSSC (Hong Kong) Shipping Co. Ltd., has proposed to issue U.S. dollar-denominated bonds under Regulation S, according to a regulatory notice.

The company has appointed Bank of China (Hong Kong) Ltd., Barclays, CCB International and DBS Bank Ltd. as the joint global coordinators, and together with Shanghai Pudong Development Bank Co., Ltd. Hong Kong Branch, CNCB Capital, ICBC International, China Securities International, ABC International, CLSA, China International Capital Corp. and Bocom International, as the joint bookrunners and joint lead managers for the proposed issue.

Completion of the issue is subject to, among others, market conditions and investors’ interest. The bonds are proposed to be unconditionally and irrevocably guaranteed by the company.

The proceeds will be used primarily to develop its leasing business and refinance its existing debt. The group may adjust its plans in response to changing market conditions and, thus, reallocate the use of the net proceeds.

The ship leasing company is based in Hong Kong.

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