News Column

Guangzhou Metro Issues CNY3bn Bonds

August 19, 2014

SHANGHAI, August 19, SinoCast -- Guangzhou Metro has issued CNY 3 billion corporate bonds with a coupon rate of 6%. This was the last issuance, according to Guangzhou Securities.

So far, Guangzhou Metro has issued total CNY 8 billion bonds, which set a precedent of issuances in phases by local state companies.

The metro company gained an approval by the National Development and Reform Commission to issue CNY 8 billion bonds on September 29, 2013. Guangzhou Securities was lead underwriter.

The first issuance was CNY 2 billion with a coupon rate of 6.45%; the second issuance was CNY 3 billion with a rate of 6.05% and the third issuance was CNY 3 billion with a rate of 6%.

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Source: Sinocast Transportation Beat (China)

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