Shangrao Urban Operation (Holding) Group Co., Ltd., a company fully owned by the Shangrao Municipal State-owned Assets Supervision and Administration Commission, has announced the issuance of CNY 360 million worth of sustainability bonds due in 2027. The bonds, designated under the International Securities Identification Number (ISIN) HK0001051082, offer a competitive 5.50% per annum interest rate, payable semi-annually, with the first interest payment scheduled for March 26, 2025.
The bonds are unsecured and unsubordinated, ranking equally with all other present and future unsecured and unsubordinated obligations of the issuer. They are being issued at a 100% premium, with the principal amount redeemable on the maturity date, falling on or nearest to September 26, 2027. The bonds are governed by English law, and the exclusive jurisdiction for any disputes will lie with the Hong Kong courts.
In line with the issuer’s commitment to sustainability, the net proceeds from the bond issue will be allocated towards financing or refinancing eligible green and social projects, as outlined in the Group’s Sustainable Finance Framework. This framework is designed to align with the Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines issued by the International Capital Market Association (ICMA).
Key terms of the bond issuance include:
- ISIN: HK0001051082
- Issue Price: 100% of the principal amount
- Interest Rate: 5.50% per annum, payable semi-annually
- Maturity Date: September 26, 2027
- Status of Bonds: Unsecured and unsubordinated obligations
- Taxation: Payments will be made free and clear of any present or future taxes, duties, assessments, or governmental charges imposed by the PRC, unless required by law.
- Listing: Application for listing on The Stock Exchange of Hong Kong Limited, for debt issues to Professional Investors only.