66 Million EUR - the Hainan FTP’s first Euro Offshore Bond

By / HICN / Updated: 17:18,18-May-2022

On May 17, the Sanya Yazhou Bay Technology City Development and Construction Co., LTD., a wholly-owned subsidiary of Sanya Yazhou Bay Technology City Holding Group Co., LTD., issued the first Euro bond of the Hainan Free Trade Port. The bond was issued for 66 million EUR, with a coupon rate of 2.0% and maturity period of 335 days. The standby letter of credit (SBLC) was issued by the Bohai Bank’s Haikou Branch. The bond was issued on May 12, and was the first overseas bond issued in cooperation with SBLC in Hainan’s key parks. This is an innovative method of opening up overseas financing channels for the development and construction enterprises of Hainan's key parks as the Hainan FTP continues to build momentum.  

Photo by XINHUA.

The Overall Plan for the Hainan Free Trade Port proposes pilot reform of cross-border securities investment and financing policies, supporting domestic enterprises registered in the Hainan Free Trade Port and the issuing of stocks overseas by domestic and overseas financing plans, giving priority to supporting enterprises in financing. The issuance of overseas bonds will help the Sanya Yazhou Bay Technology City Holding Group, a market-oriented, comprehensive development platform, to expand diversified financing channels.

Sanya Yazhou Bay Science and Technology City Holding Group has obtained an AA+ credit rating (meaning that the stronger the risk resistance and profitability of the enterprise, the lower the cost of debt financing), and has obtained 1.2 Billion RMB of non-public corporate bonds from the Shanghai Stock Exchange and a 2 Billion RMB PPN registration limit from the Inter-Bank Traders Association, while actively promoting various financing projects such as green corporate bonds and park PPP.

Next, Sanya Yazhou Bay Science and Technology City Holding Group plans to strengthen connections and cooperation with major financial institutions and investors, further improve their credit rating to AAA, create a market-oriented, law-based, standardized comprehensive platform, inject new momentum into the development of Yazhou Bay Science and Technology City, and make positive contributions to accelerate the development of a globally influential free trade port with Chinese characteristics.



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