Cosco Shipping Development plans to sell CNY 2.3bn ($340m) in asset-backed notes.

More than 94% of the notes will be issued to qualified investors in China, while the rest will be subscribed to Cosco Shipping Leasing.

They will have a term of four years and will be backed by the creditors' rights and collateral interests of Cosco Shipping Leasing pursuant to certain financial leases.