Cosco (Hong Kong) taps $238 million loan facility

Pricing on the bullet deal is tighter than previous borrowings, with proceeds to part repay convertible bonds.

Coordinating arrangers Industrial and Commercial Bank of China Asia, Agricultural Bank of China, WestLB AG and China Everbright Bank launched a $238 million transferable loan certificates facility for Cosco Hong Kong Group into general syndication last week. Syndication is slated for close on October 22 with signing scheduled for mid-November.

The facility is split into two tranches of five-year Tranche A and 6.5 year Tranche B maturities paying a margin of 120bp and 138bp respectively. Tranche A pays...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: cosco | hong | kong | taps | 238 | million | loan | facility

Print Edition

FinanceAsia Print Edition