BEWG Successfully Issued the First Tranche of 2 Billion Panda MTN for 2019 2019-01-11
On January 11, BEWG (00371.HK) announced that its first tranche of Panda MTN for 2021 has been successfully issued in the inter-bank market on January 11, with an issuing scale of 2 billion yuan. The total registered amount of the Panda MTN is 8 billion yuan, and the two tranches of 3 billion yuan each were successfully issued on May 25, 2018 and July 20, 2018.
The rating of Panda MTN is AAA in this issue, with a significant drop in the interest rate compared with the previous period: the final issuing scale is 1 billion yuan for 5+2 year varieties, with a final stated interest rate of 3.95%; the final issuing scale is 1 billion yuan for 10-year varieties, with a final stated interest rate of 4.49%. This is the first time a non-financial company has successfully issued a 10-year Panda MTN, creating the lowest interest rate for credit bonds of the same maturity since 2017; meanwhile, the 5+2 year variety also created the lowest interest rate for Panda MTN of the same maturity since 2017.
This issue is favored and recognized by many high-quality investors, including large state-owned commercial banks, joint-stock commercial banks, municipal commercial banks, fund companies, securities companies, insurance companies, etc. The investors actively participated and subscribed.
The funds raised in this issue of the Panda MTN are used to repay the existing debts, reduce the financing costs, adjust the debt structure, and stabilize the financial status of the Group to support long-term, healthy and rapid development of the Group.
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