On February 27, COSCO SHIPPING Holdings, the first ultra-short-term financing bond (epidemic prevention and control bond) of 2020, was successfully issued by the Bank of Communications, with a scale of 1 billion yuan and a term of 180 days.
 
The 110 million yuan of the raised funds will be used for COSCO Shipping and its subsidiaries to supplement the working capital requirements caused by the epidemic prevention and control.
 
The financial services provided to COSCO SHIPPING mainly benefited from the close cooperation, concerted efforts and efficient implementation of the three parties: “policy, banking and enterprises”. This is another important initiative of the Bank of Communications and other enterprises to fight the novel coronavirus.
 
Since the coronavirus outbreak, the Bank of Communications Shanghai Branch responded quickly and opened up green channels for key enterprises. Accurately serve the first-line epidemic prevention enterprises through epidemic prevention and control debt.
 

Source:Sarah Yu,XINDE MARINE NEWS

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