COSCO Shipping Development Proposes RMB15.00 Billion Expansion of Medium-Term Note Programme

Bulletin Express
Jul 29

COSCO Shipping Development Co., Ltd. (COSCO Shipping Development) has announced a plan to revise its registered debt-financing framework by enlarging the quota for medium-term notes by RMB15.00 billion. If approved, the ceiling for medium-term note issuance will rise to a maximum of RMB25.00 billion.

The adjustment modifies the debt plan endorsed at the 2024 annual general meeting, which set a combined issuance balance of up to RMB12.00 billion—comprising RMB10.00 billion in medium-term notes and RMB2.00 billion in ultra-short-term financing bonds. The RMB2.00 billion quota for ultra-short-term bonds remains unchanged.

All other elements of the financing blueprint—including tenor, use of proceeds, issuance method, target investors and underwriting arrangements—are unaffected, and the authorisations granted at the 2024 AGM stay in force.

The enlarged quota is contingent upon shareholder approval at an upcoming general meeting. Investors are advised to exercise caution when dealing in the company’s securities until the proposal’s outcome is confirmed.

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