on feb. 21, china longyuan power successfully issued its first 5 billion yuan private placement bond in 2013 in domestic interbank trading market.
based on the favorable fundamentals and higher credit rating of the company, and seized the relatively favorable issuing opportunity , the private placement bonds are subscribed actively in the issuance market and successfully priced at a low position of 4.5%. it is the lowest price of the bonds with the same maturity among equal rating enterprises since the launch of domestic private placement bond products.
the agricultural bank of china ltd and industrial and commercial bank of china ltd serve as the co-lead managers for the issuance of the bond, and the 18 institutes including china development bank comprise the directional investors.
the successful issuance of the bond realized the favorable opening for the funds management of the company in 2013, and will powerfully guarantee the fund supply and fully reduce the fund costs in 2013.