China Shipping Development Co, the subsidiary of China Shipping Group, issued a second batch of bonds worth CNY 2.5bn ($400m) following on its earlier issuance two months ago.
The funds will be used to replenish its working capital.
CSDC expects CNY 12.6bn in capital expenditures between 2012 and 2013 as it is scheduled to take deliveries of 58 newbuildings.
Published : October 26, 2012
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