China Cosco seeks approval to sell RMB 10 billion medium-term notes

By Susanna Moon

Chicago, April 29 - China Cosco Holdings Co. Ltd. said it will seek shareholder approval to sell up to RMB 10 billion of medium-term notes at a meeting to be held on June 18.

The offering will have a term of up to five years.

Proceeds would be used for operational needs, including supplementing liquidity, repaying bank loans and settling fixed-asset investment expenses.

China Cosco is a shipping company based in Tianjin, China.

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