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Wednesday, 19.Jun.2013, 03:13 (GMT+3)

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SHIPPING NEWS

China Shipping to issue US$316.1 million in medium-term notes

China Shipping (Group) Co, the parent company of China Shipping Container Lines Co Ltd., announced that it issued CNY2 billion (US$316.1 million) worth of unsecured medium-term notes with a maturity of three years on May 22, Xinhua reports.

The company said in a statement that the notes will be issued at face value, and the coupon rate be determined during the process of book-building. Both value date and payment due date was May 24, and the to-be-issued notes tradable on May 25.

China Cheng Xin International Credit Rating Co. Ltd. has rated the issuer and notes AAA and AAA, respectively.

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