Greater China

CIMC to issue offshore notes

Guangzhou: China International Marine Containers Group has announced today that it has signed a cooperation framework agreement with Bank of China and Bank of America Merrill Lynch, the corporate and investment banking division of Bank of America, to issue $600m worth of notes in the US with a maturity of three years.

Bank of China’s New York branch will be the L/C issuing bank, and Bank of America Merrill Lynch will be the arranger, depositary, dealers of the note.

CIMC stated that the raised fund will be used to adjust the group's debt structure. [28/12/12]

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