Jinan issues the largest corporate bond and first green bond.

Jinan Rail Transit Group Co., Ltd. applied to issue 3 billion yuan of “green bonds”, realizing the successful issuance of the largest corporate bond and the first green bond in Jinan history.

Jinan Rail Transit Group Co., Ltd. applied to issue 3 billion yuan of “green bonds”, realizing the successful issuance of the largest corporate bond and the first green bond in Jinan history.

Recently, Jinan Bureau of National Development and Reform Commission (NDRC) successfully declared the issuance of 13 billion yuan of bonds for Jinan Urban Construction Group and Jinan Rail Transit Group, of which Jinan Urban Construction Group applied for 10 billion yuan of High-quality Enterprise Bonds and Jinan Rail Transit Group Co., Ltd. applied for 3 billion yuan of green bonds。

It marked the largest corporate bond and the first green bond in the history of Jinan.

It is reported that the funds raised will be used for the construction of three bridges and one tunnel in Jinan and the first phase of Jinan Rail Transit Line R2, with a maturity of 10 years and 9 years respectively, with annual interest payment and principal repayment once due. The bonds are underwritten by the balance of Ping An Securities Co., Ltd. And CITIC Securities Co., Ltd.

The declaration and issuance of high-quality corporate bonds and green bonds has achieved an innovative breakthrough in bond varieties in the history of Jinan.

In recent years, the Development and Reform Commission bureau of Jinan has taken the initiative to bridge the real economy and major projects for replacing old growth drivers with new ones, establish and improve the promotion mechanism of large-scale bond issuance, and actively broaden the channels of financing.

After the successful issuance of these two corporate bonds, the cumulative issuance of bonds has reached 30 billion yuan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/07/jinan-issues-the-largest-corporate-bond-and-first-green-bond/.

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