On December 25, Shanghai Pudong Development Bank (hereinafter referred to as "Shanghai Pudong Development Bank") was the sole lead underwriter of the "Yangtze River Delta Advanced Manufacturing Enterprises 2023 Phase I Collective Short-term Financing Bonds" successfully issued. The issuance scale of this bond is 700 million yuan, the maturity is 270 days, and the coupon rate is 298%, 47 basis points lower than the one-year LPR, effectively reducing the financing cost of private enterprises.
Empower new quality productivity
The collection of notes to the industrial cluster as the starting point, to promote the upstream and downstream of the advanced manufacturing industry division of labor, enhance the new energy industry chain synergistic advantages, by the Guoxuan Hi-Tech shares, Sineng Electric shares, Ningbo Exciton Technology Co., Ltd., three private advanced manufacturing enterprises jointly issued, the three companies are located in Hefei, Wuxi, Ningbo, are advanced manufacturing subdivision of the leading enterprises, is the Yangtze River Delta new energy advantage industry chain of important subjects.
Among them, Guoxuan Hi-Tech Co., Ltd. is mainly engaged in the independent research and development, production and sales of power lithium-ion batteries (packs) for new energy vehicles, including power lithium-ion battery pack products, single lithium-ion batteries (cells), power lithium battery cathode materials, etc.
Sineng Electric Co., Ltd. is mainly engaged in power electronic conversion technology, using power electronic conversion technology to provide solutions for photovoltaic power generation, electrochemical energy storage access to the power grid and power quality management.
Ningbo Exciton Technology Co., Ltd. is mainly engaged in the formulation research and development of optical films and functional films, optical design simulation, precision coating processing technology and other services.
This collection of bills is an important measure to implement the requirements of the first economic work conference on "leading the construction of a modern industrial system with scientific and technological innovation and developing new quality productivity", which will help to further integrate scientific and technological innovation resources, lead the development of strategic emerging industries such as new energy, new materials and advanced manufacturing, accelerate the cultivation of future industries to form new quality productivity, and enhance new momentum for development.
Collaborative innovation of bond products
This collective note has set a number of firsts for bond market financing to support the real economy: the first cross-regional collective bond financing landed after the symposium on in-depth promotion of the integrated development of the Yangtze River Delta;Supporting the innovation of the first debt financing instrument for advanced manufacturing enterprises;Implement the "25 Articles of Financial Support for the Private Economy" for the first listed private enterprise collective bond;The first collection of short-term financing tools for upstream and downstream enterprises in the new energy industry chain;The central bank's "second arrow" supports the first collective bill of private advanced manufacturing enterprises.
At the same time, this is also an important practice of SPD Bank to serve the Yangtze River Delta to "strengthen cross-regional coordination of scientific and technological innovation and industrial innovation". With the professional support of the National Association of Financial Market Institutional Investors (NAFMII) and the guidance of the Shanghai Headquarters of the People's Bank of China, Anhui Branch, Wuxi Branch, Ningbo Branch and Shanghai Municipal Financial Work Bureau, SPD Bank has innovatively designed a collective bill financing scheme based on the financing needs of private advanced manufacturing enterprises, integrated transactional credit enhancement and credit risk mitigation tools, and realized the risk linkage management of credit enhancement institutions and commercial banks. Through the innovation of market-oriented financial instruments, we will improve financing efficiency and reduce financing costs, and promote cross-regional collaboration between upstream and downstream enterprises in the new energy industry chain with integrated bond financing.
In the whole process of scheme design, project implementation and issuance and sales of the collective notes, the Dealers Association cooperated with professional institutions such as Shanghai Clearing House, China Bond Credit Enhancement Investment Co., Ltd., and Beijing Financial Assets Exchange to actively serve market entities, innovate working mechanisms and convenient business processes, and complete the registration and receipt in only four working days, helping to accelerate the implementation of private enterprise bond financing support tools.
Increasing support for advanced manufacturing and smoothing the financing channels of private enterprises are the focus of the current policy. With professional, high-quality and efficient financial services, Shanghai Pudong Development Bank will continue to integrate "stocks, debts and loans" with professional, high-quality and efficient financial services, combined with the characteristics of developed manufacturing industry, complete industrial chain and financial resources in the Yangtze River Delta region, and actively explore new models of serving the real economy at home and abroad, so as to promote the integrated and high-quality development of the Yangtze River Delta.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.