On March 1, Beijing Energy International successfully issued Phase-IV of inter-bank panda bonds, with an amount of 800 million yuan, a term of 2+N years, 3.0% in coupon rate, and the subscription multiple of the bonds was as high as 32 times. The lead underwriter of this issuance is China Merchants Securities, and the joint lead underwriters are China Merchants Bank, Bank of Beijing, Bank of Hangzhou, Shenwan Hongyuan Securities, CICC and China Securities.
Since the beginning of this year, the overall domestic bond market has shown a relatively stable trend, and the market interest rate has remained at a low level. The company has followed the footsteps of the market and strived to meet its own financing needs at a lower cost. The issuance of Panda bonds will provide financial support for its business development, and at the same time, it will optimize its asset-liability structure by reducing the asset-liability ratio, thus improve its financial stability and sustainability. Going forward, the company will continue to broaden financing channels, actively participate in the investment and construction of clean energy projects at home and abroad, promote the innovation and application of clean energy technologies, and make contributions to global energy transformation and sustainable development.
