China Merchant Holdings International (CMHI) has successfully raised around US$700 million in guaranteed notes that it intends to use to develop its port operations, according to Lloyds List.
According to Li Jianhong, Chairman of CMHI, a number of projects have assisted in the development of its port business, including the ‘One Belt, One Road’ strategy and reforms of the country’s state-owned enterprises.
“Our financial ratios, even after the issuance of the $700m guaranteed notes, will still be at a healthy level, which is in line with the prudent financial policies the company has always adhered to.
“The company will proactively seek to capitalise on these opportunities, while preparing ourselves financially, for the future upgrade and transformation of our ports operation.”
CMHI handled a total of 80 million TEU in 2014, which was the equivalent of a 13% increase and is currently ranked as one of the top five terminal operators globally.
