Cosco Shipping Energy to issue debt, provide guarantees

COSCO SHIPPING Energy Transportation Co., Ltd. (SSE:600026) announced the resolutions passed at its 8th board meeting of 2025. Key approvals include a proposal to apply for registration and issuance of medium-term notes with a total scale not exceeding RMB 5 billion, with maturities of up to 10 years. The board also approved providing financing guarantees to seven wholly-owned subsidiaries, capped at USD 10 million (or equivalent in other currencies), from July 1, 2025, to June 30, 2026. The guarantee amounts can be adjusted among subsidiaries within a 70% or higher asset-liability ratio range. Both resolutions are subject to shareholder approval at the upcoming 2024 Annual General Meeting, scheduled for June 30, 2025.