The tanker and bulker owner said the 90-day bills will be issued on 25 February.
Cash will to towards replenishing operating capital andrepaying debt owed to banks.
The sale is being underwritten by China Merchants Bank andCITIC Securities.
CMES has an AAA rating from China Chengxin InternationalCredit Rating.
But it is has forecast a heavy loss for 2013.
