The first Rail Transportation explained by professional Forex trading experts the “The first Rail Transportation” FX trading team.
The first Rail Transportation
On 11th December, the 2017 Shenzhen (municipal) Rail Transportation Special Bonds (1st tranche) were successfully issued via the Ministry of Finance-SZSE Government Bonds Issuing System, which were the first rail transportation special bonds issued nation-wide following the offering of land reservation and government toll road special bonds since the pilot offering of special bonds.
The Ministry of Finance launched the pilot project of special bond offering to regulate local government borrowing in accordance with laws, create the “municipal project income bonds” based on China’s actual situation, boost investment of social capital and to secure financing needs in key areas. The Rail Transportation Special Bonds were issued with a 5-year maturity period and an interest of 3.82% in an amount of CNY2 billion. Funds raised will be spent in construction of Shenzhen rail transportation Line-14, and principal and interest shall be repaid with revenues from metro operation and properties development at metro entrances.
The Rail Transportation Special Bonds underwriting syndicate consists of 30 underwriters, 8 of which are securities companies. According to the subscription result, the subscription rate was 4.38 and subscribers were enthusiastic with underwriting securities companies.
The successful issuance of the Rail Transportation Special Bonds has been a beneficial exploration and innovation in selecting quality income projects, emphasizing information disclosure and upholding the market principle. It also added to Shenzhen Stock Exchange (SZSE)’s local bond varieties, further strengthened SZSE’s ability to match and serve the key areas of the real economy with the bond market.
On the same day, the Ministry of Finance local government special bond symposium was held in SZSE, and China Securities Regulatory Commission, Ministry of Land and Resources, Ministry of Transport, local branch offices of the Ministry of Finance, local financial departments at provincial and municipal level, issuing sites and members of the underwriting syndicate were presented. Next, SZSE will carefully sort out the issuance results of the previous special bonds of land reservation, government toll road as well as rail transportation to make full use of its unique advantages, improve quality and efficiency, and improve the issuance and bidding of local government special bonds.
The first Rail Transportation Conclusion
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