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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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