Seizing Opportunity from Bond Market, Further Reducing Financing Cost: SSAM Successfully Issues First-tranche Corporate Bonds in 2022
- Recent reports
-
2023-04-28
Strengthening the Fulfillment of Responsibilities, Eliminating Potential Hazards: SIG Conducts Safety Inspection before "May Day" Holiday
Learn more
-
2023-04-27
Nearly 100 Invested Enterprises of SSC Selected into Global Unicorn Index 2023
Learn more
-
2023-04-26
Seizing Opportunity, Recording Lowest Coupon Rate, Enhancing Market Visibility: SSAM Successfully Issues First-Tranche MTNs in 2023
Learn more
On February 24, Shanghai State-Owned Assets Management Co., Ltd. (SSAM) issued its first-tranche corporate bonds in 2022, with a scale of 1 billion yuan, a term of 3 years and a coupon rate of 2.95 percent, raising capital at low cost successfully.
As interest rates of bonds were at historically low levels before the Spring Festival, SSAM resolutely started the preparation for corporate bond issuance, planning to further reduce its financial cost through adjusting the structure of outstanding liabilities. In half a week before bookkeeping, loose credit expectations caused sudden adjustments to the bond market. SSAM responded positively and operated steadily, and consolidated the investor foundation while following the market closely, thus attracting three times of subscription (worth over 3 billion yuan) from banks, funds, insurance companies and securities companies in the bookkeeping day, and successfully issuing corporate bonds below market valuation.
The issuance, which increased the proportion of SSAM's cross-cycle low-cost long-term liabilities and further reduced the financing cost of outstanding liabilities, is another reflection of SSAM's fine management of active liabilities. It will boost SSAM's primary strategy of "financial ecology development and high-quality allocation", improve the level of serving overall strategic interests through financing and contribute to building SIG into a financial investment holding platform.
