China’s Dalian Port is seeking to raise funds from the bond market with a proposed offering of Chinese currency denominated credit enhanced bond.

Hong Kong-listed Dalian Port said that the offer price and the interest rate will be determined through a book building exercise, and it has also yet to disclose the size of the bond.

The funds are expected to be used for refinancing and general working capital purposes.

The proposed deal will be conducted by ABC International and Agricultural Bank of China as the joint global coordinators.

ABC International, Agricultural Bank of China, CCB International, China Minsheng Bank and Huatai Financial have been named as the joint lead managers and joint bookrunners of the proposed bonds issue.