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Hong Kong operator undeterred by cooler market
26 Jun 2008
China Merchants Holdings International, the Hong Kong-listed port operator, has launched a five and 10 year dollar bond, braving some rough conditions in the international markets.
China Merchants issues bonds to fund its investments in areas such as Shanghai
With other borrowers choosing to hold back in the face of worsening market conditions, China Merchants pegged its hopes on its Chinese government links and relatively generous coupon to overcome investors’ nerves.
It has port investments in Shenzhen and Shanghai, both among the top five ports in the world.
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