Latest News
SDIC issues billion-dollar bonds
Last Updated: 2017-05-03 08:12 | Xinhua
 Save  Print   E-mail

State Development & Investment Corp. (SDIC), China's largest state-owned investment holding company, has for the first time issued U.S. dollar-denominated corporate bonds overseas.

Priced to yield 2.875 percent for the five-year tenor and 3.625 percent for the ten-year tenor, the bonds, worth one billion dollars, were multiple times oversubscribed, with 80 percent of investors from Asia, according to SDIC.

The company called the event a "milestone" for its internationalization.

The issuance will widen financing channels, facilitate overseas investment and acquisitions, and contribute to the Belt and Road Initiative, according to the SDIC.

Global rating agencies, including Moody's and Fitch, assigned the notes high ratings.

SDIC raked in 18 billion yuan (2.61 billion U.S. dollars) of profits in 2016, up 9 percent from a year ago, and its operating revenue stood at 98.4 billion yuan.

Share to 
Related Articles:
Most Popular
Chinese | BIG5 | Deutsch
Xinhuanet | | People's Daily Online | | CNTV | | Global Times | | China Youth International | Visit Beijing |
About | About the Economic Daily | Contact us
Copyright 2003-2015 China Economic Net. All right reserved