Cosco Shipping Leasing has proposed to borrow CNY 1bn ($149m) from Minmetals International Trust as the leasing unit of Shanghai and Hong Kong-listed Cosco Shipping Development (CSD) continues to replenish its liquidity.
Cosco Shipping Leasing will apply for a three-year trust loan from the subsidiary of China Minmetals Corp (CMC), with collateral provided by CSD.
“This is for the leasing unit to develop its business and replenish working capital,” a filing said.
