China COSCO Holdings gets US$200m three-year-loan

Cosco’s Hong Kong-listed flagship has announced it has acquired a US$200m three-year-loan from China Agricultural Bank’s Singapore branch, SinoShipNews reports.

China COSCO applied for RMB1.4bn in standby letters of credit for the loan and currently China COSCO has a cumulative amount of external guarantees of US$724.43m.