Jiangxi’s Ganjiang New District issues China’s first green municipal special bond

On June 18, the Green Municipal Special Bond (Phase I) of Ganjiang New District in Jiangxi Province was successfully issued on the Shanghai Stock Exchange.

On June 18, the Green Municipal Special Bond (Phase I) of Ganjiang New District in Jiangxi Province was successfully issued on the Shanghai Stock Exchange.

It is reported that the funds raised will be incorporated into the budget management of government funds in Jiangxi Province and will be used for the construction of Xingye Avenue of Rule Lake New Town’s comprehensive network and the smart network project of Rule Lake New Town.

It is understood that the Ganjiang New Area Green Municipal Special Bond (Phase I) has a size of 300 million yuan, the credit rating AAA, with 30-year period and 33 bidding institutions. It is oversubscribed more than 12 times with the interest rate of 4.11%, by the Industrial and Commercial Bank of China, China Merchants Bank and five other financial institutions, marking the first green municipal special bond in the country.

The green municipal special bond plans to raise 1.25 billion yuan and to be issued in three phases, the second phase and the third phase are planned to be issued in 2020 and 2021 respectively.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/08/jiangxis-ganjiang-new-district-issues-chinas-first-green-municipal-special-bond/.

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