News reported on Mar 20th 2020 that Shaanxi Coal & Chemical Industry Group Co Ltd 2020 #1 corporate bond was approved to book register at China Central Depository & Clearing Co Ltd.
The bond is to be issued in size of CNY4bn, with a term of 7 + 5 + 3 years and a coupon rate of 3.94%, nearly one percentage lower than central bank benchmark interest rate of long-term loan in the same period, recording the biggest single issuance size of ultra-long term corporate bonds in the domestic market in recent five years. Raised money should be primarily used on construction of SCCIG Yulin Chemical Co Ltd coal species gradient conversion to chemical new material process demo project phase I 1.80Mt/a ethylene glycol capacity.
