Hubei Xingfa Chemicals Group issues RMB1 billion green bond

On April 10, Hubei Xingfa Chemicals Group issued RMB1 billion green bonds (the first phase) with a coupon rate of 5%.
This is the third corporate bond issued by Yichang City since the outbreak, and it is also the nation’s first publicly-raised green bond in the chemical industry on Yangtze River protection plan.

On April 10, Hubei Xingfa Chemicals Group issued RMB1 billion green bonds (the first phase) with a coupon rate of 5%.

This is the third corporate bond issued by Yichang City since the outbreak, and it is also the nation’s first publicly-raised green bond in the chemical industry on Yangtze River protection plan.

Hubei Xingfa Group’s RMB1 billion green bond (the first phase) has a ten-year period, of which 500 million yuan is used to upgrade and upgrade the green ecological industrial park in the Yichang branch of the Yangtze River, and 500 million yuan is used to supplement the company’s working capital.

The issuance of this corporate bond will not only play an important role in serving the protection of the Yangtze River, promoting the greening of industrial parks, modernization and upgrading, but also support Yichang’s anti-epidemic product manufacturers to increase capital liquidity and enhance regional anti-risk ability.

Up to now, Yichang City has registered a total of 3 corporate bonds, with a scale of 4.089 billion yuan, of which the high-investment corporate bonds are the first in the country that borrow new debts to cover old ones after the National Development and Reform Commission ’s epidemic bond new policy.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/27/hubei-xingfa-chemicals-group-issues-rmb1-billion-green-bond/.

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