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Sinochem Corporation Issued This Year’s First Corporate Bonds with Lowest Interest Rate of Products in the Same Period

Date:2018-04-24 Source:Sinochem Group

Recently, Sinochem Corporation smoothly completed registration of corporate bonds for 2018 and successfully issued its first issuance of RMB 3 billion corporate bonds on April 17. The period of the bonds is 3+2 years with a coupon rate of 4.59%, the lowest coupon rate of corporate bonds issued by AAA-level central state-owned enterprises since 2018 and it is nearly 20 basis points lower than corporate bonds recently issued in interest rate of the same level and the same period. 

The lead underwriters of this issuance of corporate bonds were UBS, Ping An Bank, CITIC, Guangdong Development Bank and China Securities with Sinochem Finance Co., Ltd. serving as financial advisor. During the book-keeping period, 72 orders were harvested and the total subscription amount exceeded RMB10 billion, reflecting investors’ confidence in Sinochem's operating results in recent years and their prospects for future development.