China Knowledge reported that Qingdao Qianwan Container Terminal Co Ltd a joint venture founded by Qingdao Port Authority and P&O Ports will issue CNY 200 million in medium term notes with a maturity of three years on the interbank market on July 22.

The company said in a statement that this batch of notes will be issued at the face value and the yield will be determined in the process of book building. Both value date and payment due date will be July 25.Proceeds from the issuance will be mainly used to replenish the firm's working capital.

China Cheng Xin International Credit Rating Co Ltd has rated the issuer and the notes AA+ and AA+ respectively. Bank of Communications Co Ltd has been assigned as major underwriter for the sale.

Qingdao Qianwan Container Terminal one of the largest terminal operators in the world and operates eleven container berths.

(Sourced from China Knowledge)