The Chinese port of Dalian has on Tuesday received approval for the issuance of domestic corporate bonds to the public issued by the China Securities Regulatory Commission (CSRC), Seatrade Asia online reports. Dalian Port Co. will issue an aggregate principal amount of not more than RMB2.35bn ($361.3m) to the public in China within six months of the approval.
Dalian Port had first proposed in January to issue the domestic corporate bonds for the purpose of helping the company adjust debt structure, repay bank loans and contribute to the working capital. The maturity of the bonds will be 10 to 20 years, subject to final determination by the board according to market conditions prevailing at the time of issue.
Dalian Port had first proposed in January to issue the domestic corporate bonds for the purpose of helping the company adjust debt structure, repay bank loans and contribute to the working capital. The maturity of the bonds will be 10 to 20 years, subject to final determination by the board according to market conditions prevailing at the time of issue.