China Merchants Port issues $99.5m worth of bonds for coronavirus control

China Merchants Port Holdings has announced that the company will issue RMB700m ($99.5m) worth of short-term bonds with a maturity of 266 days from February 24.

China Merchants Bank will be lead underwriter and Bank of China will be the joint underwriter of the bond.

The proceeds from the bond issue will be offered to affiliate companies for coronavirus prevention and control and debt repayment.

China Merchants Port is the largest port operator in China with an extensive network covering Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Dalian, Zhangzhou, Zhanjiang, Shantou, Hong Kong and Taiwan. It also runs a global port network portfolio spanning 36 ports in 18 countries and regions.