On April 23, COSCO Shipping Group successfully issued the first phase of the RMB 2 billion small public company bond on the Shanghai Stock Exchange. In the current period, corporate bonds were issued in a bookkeeping manner, which was unsecured and fixed-rate bonds. The final issuance rate for three-year products was 4.50%, which was 0.25 percentage points lower than the current benchmark interest rate for bank loans for the same period, which was the optimal level in the market during the same period.

In order to increase financing methods, reasonably match financing terms and issue types of bonds, since 2017, COSCO SHIPPING Group has actively applied for issuing corporate bonds to the China Securities Regulatory Commission and Shanghai Stock Exchange. On January 31, 2018, the China Securities Regulatory Commission approved the agreement and COSCO Shipping Group successfully completed the registration of RMB 20 billion. In order to make the first issue of bond issuance, COSCO Marine Group closely followed changes in the capital market and monetary policy, increased the promotion of bond sales, and conducted telephone roadshows in the face of more than 30 investment institutions to tap the investment potential and achieved good results. In the book-issuing issuance, investors are actively guided to subscribe, and the overall bidding multiple is 2.10 times, the marginal multiple is 1.09 times, and the final issuance rate is 4.50%. The interest rate market in the same period is the lowest.

It is reported that the successful issuance of corporate bonds and the use of funds raised to repay debts and replenishment of liquidity funds by COSCO SHIPPING Group and its subsidiaries are beneficial to COSCO SHIPPING Group and its subsidiaries to seize the opportunity of the “Belt and Road Initiative” and expand the countries along the “Belt and Road” initiative. And business space in the region, actively respond to global economic development and changes in the shipping industry.