COSCO TO RAISE BONDS FOR 2 BILLION YUAN
China Ocean Shipping (Group) Co. started offering 2 billion yuan (about $240 million) in 15-year bonds to the Chinese domestic market yesterday (Aug. 29).
The offer is open until Oct. 27. The bond will carry an annual interest rate of 4.58 percent, payable twice a year. The Agricultural Bank of China will provide a non-reversible guarantee, COSCO said. The bond is rated AAA by China Lianhe Credit Rating Co. Ltd.