COSCO Shipping Energy Transportation Seeks Approval to Issue Up to 5 Billion Yuan in Bonds

MT Newswires Live

06/06

COSCO Shipping Energy Transportation (HKG:1138) will apply to China's National Association of Financial Market Institutional Investors for the proposed registration and issue of up to 5 billion yuan of mid-term bonds, a Thursday Hong Kong bourse filing said.

The bond issue is also subject to shareholder approval, according to the shipping company.

The firm plans to use proceeds from the issue for repayment of debt, working capital, project and equity investments, and M&A restructuring.

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