Finance and InsuranceGreater China
ICBC Leasing issues $200m shipping assets bond
ICBC Leasing, the financial leasing arm of ICBC, has issued $200m of offshore shipping bonds through a special purpose vehicle in Marshall Islands, pledging two of four Golar LNG vessels as collateral while Korea Exim Bank has provided a full guarantee for the issue of the bonds.
ICBC Leasing inked a sale and leaseback deal for the four LNG vessels with Golar LNG in 2014.
Yang Changkun, managing director of ICBC Leasing’s shipping division, said that the company is trying to operate more like shipowners and is looking for more international financing opportunities.
ICBC Leasing is one of the largest owners of shipping assets in China, controlling over RMB44bn ($6.7bn) worth of vessels and offshore platforms.