China’s first national green innovation and entrepreneurship corporate bond for epidemic prevention and control was issued on March 11 at the Shenzhen Stock Exchange.
The bond, named Jiangsu Canlon Green Innovation and Entrepreneurship Corporate Bond, is undertaken and secured bySoochow Securities, who has signed the first credit protection contract on green innovation and entrepreneurship corporate bonds in the country.
The issuer of the bond is Jiangsu Canlon Building Materials Co., Ltd, with an issuance size of 50 million yuan and a coupon rate of 5%.
Soochow Securities provides full credit protection for the issuance. 30% of the proceeds will be used for the resumption of production in Huanggang Canlon New Materials Co., Ltd. in Hubei Province, and 70% for the transformation and upgrading of the company to build a leading global waterproofing new material production line.
Jiangsu Canlon is a listed company on the Shenzhen Stock Exchange's GEM, which is also a private high-tech enterprise of waterproof building materials.
The issuance of the green bond will address the need for low-cost funds for enterprises to resume work and production as soon as possible during the epidemic.
Source: China Securities Journal