State-owned firm issues $500 million bonds overseas
(chinadaily.com.cn), Updated: 2018-02-07
Xiangyu Group, a wholly state-owned enterprise in Xiamen, has issued 5-year bonds worth $500 million at a coupon rate of 4.5 percent outside China. [Photo provided to chinadaily.com.cn] |
Xiangyu Group, a wholly state-owned enterprise with its headquarters in Xiamen, has recently issued 5-year bonds worth $500 million at a coupon rate of 4.5 percent outside China.
Such a coupon rate is much lower than those of comparable Chinese enterprises.
Fitch Ratings has assigned final "BBB" ratings to Xiangyu Group, which lays a solid foundation for the company's success.
It's the first investment-grade rating that a Xiamen enterprise has been assigned by one of the three major international rating agencies and also the highest rating obtained by any Fujian-based enterprise.