China Merchants Port raises 3bn yuan in oversubscribed bond

China Merchants Port Group raised 3 billion yuan through its first tranche of science and technology innovation corporate bonds at a 1.82% coupon rate.

The offering was oversubscribed with a bid-to-cover ratio of 3.3 times. Associated parties including China Merchants Securities and China Merchants Bank subscribed for 730 million yuan, while underwriters took 960 million yuan.