Strong support for China Cosco's $1 billion credit-enhanced bond

China Cosco side-steps its problems by raising $1 billion in the international capital markets, but with some help from Bank of China.

Strong support for China Cosco's $1 billion credit-enhanced bond
China Cosco: Falling shipping volumes have hurt business

China Cosco is going through tough times. In 2011, China’s biggest listed shipping company made a loss of Rmb10.45 $1.68 billon as dry bulk and container shipping volumes fell, and it is set to make a loss again this year.

Its share price has collapsed. The company needs money, but international lenders demand a high price. Fortunately, one of China’s state-owned banks could give a helping hand. Late on Monday, China Cosco raised $1 billion...

To continue reading, please login or register for free

Click for more on: china cosco | boci | hsbc | credit enhanced bond issue

Print Edition

FinanceAsia Print Edition

CONFERENCES