Hong Kong-listed China Merchants Holdings (International), a subsidiary of China Merchants Group, has issued USD 700 million fixed-coupon guaranteed notes to support the capital needs for the development of the company’s port business.
The bond sale consists of two tranches, a 5-year tranche of USD 200 million, and a 10-year tranche of USD 500 million.
The issue is rated BBB+ by Standard & Poor’s and Baa1 by Moody’s, with a stable outlook.
”In light of the facilitation of ‘One Belt-One Road’ strategy by the Chinese government, together with the opportunities arising from the Stated-Owned Enterprises Reform, and from the establishment of Qianhai-Shekou Free Trade Zone in Western Shenzhen, all in all, the Company is presented with precious opportunities to further develop its comprehensive ports business. The Company will proactively seek to capitalize on these opportunities, while preparing ourselves financially, for the future upgrade and transformation of our ports operation,” Li Jianhong, Chairman of the Board of Directors of CMHI, said.