The first payment of peak 2013 corporate bonds is completed.
Release time:
2020-08-14
Peak 2013 Corporate Bond Initial Payment Completed
News 6# September 5 , Jianfeng Group 2013 Corporate Bond (Phase I) principal and interest payment was successfully completed.
2013 6 September 5 , approved by China Securities Regulatory Commission, Jianfeng Group 2013 corporate bonds (Phase I) were publicly issued with an issue amount of RMB 3 .5 billion. The issue is a 5 -year fixed-rate bond with a coupon rate increase option and an investor resale option at the end of the third year, with a debt rating of AA +(up to AAA ). The coupon rate of the bonds was determined by market bidding and was finally determined as 4.90% , which was 1.55 percentage points lower than the benchmark interest rate of 5 -year bank loans at that time, fully reflecting the capital market's affirmation of Jianfeng Group. After the issuance of
Jianfeng Group's 2013 corporate bonds (the first issue), they were listed and traded on the Shanghai Stock Exchange on 7 April 2 of that year. As some investors chose to sell back at the end of the third year, the company paid the resale on 2016 6 6 , reducing the bond balance to 2.77 .4 billion yuan. The total amount of principal and interest to be paid by the time the bonds mature is $2.9 .6 billion (including tax).
In order to do a good job in repaying the principal and interest of the bonds, the group company issued a public announcement on 5 January 25 to register the relevant rights and interests, and entrusted China Securities Depository Shanghai Branch to cash and exchange interest on the bonds. 6 May 5 , the maturity date of the bond, the principal and interest payment was successfully completed.
Corporate bonds are securities issued by companies in the stock exchange market in accordance with legal procedures and agreed to repay the principal and interest within a certain period of time, and the issuance of corporate bonds is one of the main ways of direct financing. Bondholders are creditors of the company and have the right to obtain interest from the company and recover the principal at maturity on agreed terms, but do not participate in the company's operation, management and other activities. Once the bond matures, the company must repay the principal. Through the issuance of corporate bonds, not only can replace short-term borrowing, but also increase the company's working capital, is conducive to optimizing the company's debt structure, enhance the company's short-term solvency, control the company's cost of capital, so many enterprises become an important way of financing. However, with the gradual deepening of "deleveraging" since 2017 and the influence of factors such as tightening of financing policy, shift of monetary policy and promulgation of new capital management regulations, more than 20 bonds have defaulted in 2018 , and the share prices of listed companies that broke out of the corporate debt crisis have all fallen sharply. Zhu Jianwei, Secretary of the board of directors of
group company, said that although there are many reasons for the emergence of the corporate debt crisis, in the final analysis, some enterprises with excessive expansion and low development quality in the early stage are in the general environment of monetary policy shift and financing difficulty, and the contradiction of lack of sufficient cash flow is highlighted. The successful completion of the payment of the peak 2013 corporate bonds (the first issue) is inseparable from the company's long-term adherence to the strategic direction, focus on industry and focus on the quality of development. In recent years, the company has continuously strengthened management, the main business has achieved good operating efficiency and cash inflow, so that the company has more abundant capital reserves. At the same time, in the current situation of frequent negative news on corporate bonds, peak bonds can be paid smoothly on schedule, improve the company's credit level, establish a good image of the enterprise, and lay the foundation for further high-quality development. (Reporter Fu Yiwu)
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On January 28, the group company held a business analysis meeting to review and summarize the work situation in 2018, arrange and deploy the work for the new year, and put forward work requirements. At the meeting, various professional companies and directly affiliated enterprises made reports on the overall work situation in 2018, focusing on analyzing the existing problems and deficiencies, and proposing corresponding solutions and work plans for 2019. Xiang Chongping, deputy general manager of the group company, made a systematic review of the current human resources efficiency and human resources development of the company. Chen Tianci, chairman of the board of supervisors, made a report and analysis on the internal control, safety and environmental protection work in 2018. Lan Xiaolong, head of finance, analyzed the risks and challenges currently faced by the company according to the operating data and financial situation of its subordinate enterprises. The functional departments and offices of the headquarters also made a brief report on their annual work. Yu Jianhong, general manager of the group company, made a comprehensive review of the company's operation in 2018 and made a comparative analysis of the main economic indicators of each industrial sector. In 2018, the operating indicators of the company's various industrial sectors have improved significantly year-on-year, and the group company has also created the best operating performance in history. All units have completed the formulation of the second round of "three-year business plan", which points out the direction for the next three years of business work; the group company has also completed the first draft of the new "five-year strategic development plan", which is being revised and enriched. In addition, the two main businesses have also made substantial progress in investment expansion and industrial integration around strategic objectives, and the operating costs of major enterprises have decreased to varying degrees; the optimization of organizational structure and post setting has achieved new results, and management efficiency and people
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