China’s Cosco Shipping proposes RMB 5 billion medium-term notes

By Marisa Wong

Morgantown, W.Va., July 13 – Cosco Shipping Holdings Co., Ltd. said it is planning to register to issue up to RMB 5 billion of medium-term notes in one or more tranches.

The size of each tranche would be capped at RMB 4 billion.

The notes would have maturities of no more than seven years.

Proceeds would be used to repay medium-term notes totaling RMB 4 billion with upcoming maturities.

The company said that if the window for issuing the medium-term notes is postponed, it plans to issue super-short-term and short-term commercial paper in the interim.

The Shanghai-based shipping company is proposing up to RMB 10 billion of commercial paper.

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