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China Shipping Development to issue CNY 2.5 billion bonds
China Knowledge reported that China Shipping Development Co Ltd, the largest carrier of crude oil in mainland China plans to issue CNY 2.5 billion of secured bonds from August 3 to August 7.
The company said in a statement that the bonds which is part of its CNY 5 billion bond issue plan, comprise CNY 10 billion in three-year fixed-rate bonds and CNY 1.5 billion in ten year bonds. The bonds have been rated AAA.
The coupon rate of the three-year bonds will be set between 3.7% and 4.2%, and that of the ten-year bonds will be between 4.6% and 5.1%.
Proceeds from the offering will be used to replenish the company's working capital to fund capacity expansion.
Source: China Knowledge
The company said in a statement that the bonds which is part of its CNY 5 billion bond issue plan, comprise CNY 10 billion in three-year fixed-rate bonds and CNY 1.5 billion in ten year bonds. The bonds have been rated AAA.
The coupon rate of the three-year bonds will be set between 3.7% and 4.2%, and that of the ten-year bonds will be between 4.6% and 5.1%.
Proceeds from the offering will be used to replenish the company's working capital to fund capacity expansion.
Source: China Knowledge
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