Cosco Shipping Holdings taps ‘virus bonds’

Cosco Shipping Holdings taps ‘virus bonds’
Cichen Shen 01 Mar 2020 https://lloydslist.maritimeintelligence.informa.com/LL1131330/Cosco-Ship...

The container shipping and ports arm of state conglomerate China Cosco Shipping Corp has raised $143.5m by selling a so-called virus control bond. Such bonds offer an interest rate below the central bank’s benchmark, allowing issuers to use the cheap funds in part to shore up their liquidity

Bonds carry a coupon rate of 1.82% and maturity of 180 days