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Hot Subscription！ BEWG’s Panda Bond Interest Rate Hits a Five-year Low! 2021-07-15
2021-07-15
On July 15, BEWG (00371.HK) announced that its first tranche of Panda Bonds in 2021 has been successfully issued.
The current panda bonds are rated AAA, the term for variety I is 3+2 years, with an issuing scale of 1 billion yuan, and a stated interest rate of 3.27%; the term for variety II is 5 years, with an issuing scale of 1 billion yuan, and a stated interest rate of 3.64%. As for this issuance, the favorable market window after the Central Bank’s recent across-the-board RRR cut was fully grasped. The issuing interest rate has hit a new low for the same maturity and same rating of panda bonds on the exchange in the past year, and also set a five-year low for corporate bond issuance.
The bonds issued at current period have been actively subscribed by banks and non-bank institutional investors. Nearly 50 purchase requisition forms were received during the bookkeeping process, with full-market subscription ratio reaching 4.83 times for variety I and 3.19 for variety II. Meanwhile, the institutions involved in the current period are highly diversified, including large state-owned banks, joint-stock banks, mainstream insurance companies, large securities and fund companies, bank financing subsidiaries, financial companies, etc., fully reflecting the firm support of all kinds of professional investors for the investment value of BEWG.
The successful issuance of the current corporate bonds has once again demonstrated the strong comprehensive strength of BEWG and the high recognition of the development of BEWG by market investors, and also further enhanced the attention and influence of BEWG in the capital market.
On July 15, BEWG (00371.HK) announced that its first tranche of Panda Bonds in 2021 has been successfully issued.
The current panda bonds are rated AAA, the term for variety I is 3+2 years, with an issuing scale of 1 billion yuan, and a stated interest rate of 3.27%; the term for variety II is 5 years, with an issuing scale of 1 billion yuan, and a stated interest rate of 3.64%. As for this issuance, the favorable market window after the Central Bank’s recent across-the-board RRR cut was fully grasped. The issuing interest rate has hit a new low for the same maturity and same rating of panda bonds on the exchange in the past year, and also set a five-year low for corporate bond issuance.
The bonds issued at current period have been actively subscribed by banks and non-bank institutional investors. Nearly 50 purchase requisition forms were received during the bookkeeping process, with full-market subscription ratio reaching 4.83 times for variety I and 3.19 for variety II. Meanwhile, the institutions involved in the current period are highly diversified, including large state-owned banks, joint-stock banks, mainstream insurance companies, large securities and fund companies, bank financing subsidiaries, financial companies, etc., fully reflecting the firm support of all kinds of professional investors for the investment value of BEWG.
The successful issuance of the current corporate bonds has once again demonstrated the strong comprehensive strength of BEWG and the high recognition of the development of BEWG by market investors, and also further enhanced the attention and influence of BEWG in the capital market.
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