China’s first green corporate bond in the field of biomedicine released

Chongqing High-Tech Zone Development & Investment Group announced recently that the issuance of its green enterprise bonds approved by the National Development and Reform Commission.

Chongqing High-Tech Zone Development & Investment Group announced recently that the issuance of its green enterprise bonds approved by the National Development and Reform Commission.

The bond is not only Chongqing’s first publicly-raised green corporate bond, but also the country’s first green corporate bond in the biopharmaceutical sector.

The National Development and Reform Commission’s reply shows that the total amount of green bonds raised by Chongqing High-Tech Zone Development & Investment Group does not exceed 2 billion yuan.

According to reports, this green bond fundraising project is used for the circular construction and renovation project of the Chongqing High-tech Development Zone.

Among the funds raised, 1 billion yuan will be used for the circular construction and renovation projects of the Chongqing High-tech Development Zone, and 1 billion yuan will be used to supplement the group’s working capital.

The project funds will support the infrastructure construction of the biopharmaceutical industry in the area, specifically for the construction of the third-phase intensive plant of the national biopharmaceutical base, the construction of the central heating energy center, and the construction of environmental protection facilities such as sewage treatment plants and solid waste treatment centers.

The approval document shows that Industrial Securities will act as the lead underwriter of the bond issuance, and the distributor Huaying Securities Co., Ltd. will form an underwriting syndicate.

The term of the current bond is 7 years, and the interest is calculated as simple interest in the form of a fixed interest rate.

In addition, the green enterprise bonds approved this time have the highest approved issuance amount. The amount of 2 billion yuan is the highest amount of Chongqing state-owned enterprises.

It is expected to increase the competitiveness of the biopharmaceutical industry by accelerating recycling construction and transformation, promote the implementation of high-quality biopharmaceutical industry projects, and accelerate the improvement of the biopharmaceutical industry chain.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/14/china-s-first-green-corporate-bond-in-the-field-of-biomedicine-released/.

Leave a Reply

Please Login to Comment