on july 17, 2018, the group successfully issued and priced the phrase ii of the 2018 corporate bonds (two varieties). all the 1.69 billion corporate bonds registered by the group have been issued so far.
the results of the issuance are as follows:
the successful registration and the smooth issuance of the phase ii of the corporate bonds were depended on the support of the group leaders, the great cooperation between each department and all subsidiaries, and preparation works before and after the issuance.
during the process of registration and issuance, the group’s finance department and secretary office of the board:
- actively communicated and cooperated to upgrade the company's rating
after more than a year of continuous communication, consulting with rating agencies to conduct researches, update data and revise reports, the credit rating of the company and corporate bonds has been upgraded from aa to aaa by china chengxin securities rating co., ltd. the corporate bond (phase i) was changed from non-pledge to pledge, which improved the recognition of investors. the phase ii of the corporate bond now has been further recognized by the whole market with more than 60 investors subscribed to it vigorously.
- focus on market changes and the timing of issuance
the two departments followed up the relevant information, participated in sharing sessions, actively communicated with the bond agency, and focused on market changes.
the two departments also worked with the bond agency for months of inquiry guidance and carried out roadshows before each issue, so as to enable as many investors as possible to have a full understanding of the company's excellent qualifications.
the final price of the first issue in march 2018 was 5.58%, ranking the first place among other aa companies and the top five among aaa companies. the timing of the issue was accurately measured, and the price of 3 2 year varieties was lower than the benchmark interest rate of the central bank in the same period after the adjustment.
- checking and proofreading
during the process of more than one year's registration and issuing work, the two departments actively communicated and cooperated with various subsidiaries, updating and reprinting massive data every quarter, and cooperated closely with the bonds agency. the review of the pre-release documents such as prospectus and rating reports and the feedback was strict and prompt.
with these high-quality issuance materials and active communication and cooperation, the company obtained the approval without feedback from china securities regulatory commission in the registration stage. the company also successfully passed the pre-issuance review and ensured the preparation of bond registration during the period of issuing, and ensured the issuance to be carried out in a rigorous and orderly manner.
at last, the company would thank to haitong securities company limited for the great contribution to the successful issuance of bonds, and also thank to other relevant institutions which involved in the process of registration and issuance.