CCCG Has Successfully Issued RMB 16 Billion Exchangeable Bonds

Source:Financial Management DepartmentTime:2017-11-15

On November 15, the funds raised from exchangeable bonds issued privately by CCCG were transferred into special accounts, which marked the successful conclusion of CCCG in issuing exchangeable bonds. CCCG has successfully issued RMB 16 billion exchangeable bonds, with the nominal rate of 1%. It has achieved fruitful results in its innovative financing once again.

The basic scale of this offering was RMB 10 billion, with over-allotment not exceeding RMB 6 billion and quoted interest rates ranging from 1% to 2.5%, realizing the goal of “issuing scale reaching the upper limit and nominal rate reaching the lower limit” through bookkeeping pricing. The exchangeable bonds are privately offered and valid for three years. After six months upon the offering, the investors holding the exchangeable bonds may swap their bonds for CCCC’s shares pledged in CSDC by CCCG.

This offering of exchangeable bonds is direct financing in the capital market by CCCG as the issuing body for the first time, setting a number of new records in the market. Up to now, it is the largest exchangeable bonds project in China’s capital market, and the largest private refinancing project of infrastructure industry in the capital market. It is also the only private offering of three-year exchangeable bonds which have been issued at a low rate within the range of quoted interest rates in recent years, the final nominal rate being the same as that of public offering of exchangeable bonds with the same ratings and similar issuing scale. This offering is A-share private exchangeable bonds invested by qualified foreign investors successfully introduced for the first time, and the first offering of exchangeable bonds by the pilot enterprise of government capital-invested company.