Hong Kong November 9, 2023/PRNewswire/ -- New Creation Group Limited (“New Creation Group” or “Group”, Hong Kong stock code: 659) is pleased to announce that it has successfully completed the issuance of the second issue of RMB medium-term notes (Bond Connect) in the Chinese interbank bond market on November 8, 2023 (”Pandas Bonds“). The principal amount of this bond is RMB 2 billion, an annual interest rate of 3.90%, and a term of three years. Together with the Group's issuance of the first issue of panda bonds with a principal amount of RMB 1.5 billion in May 2023, a total of RMB 3.5 billion has been issued. Proceeds from this issue will be used to repay the Group's bank loans and/or repurchase the Group's perpetual capital securities.
Ho Chi-hang, Executive Director and Chief Operating Officer of Xinchuang GroupHe said, “The Group successfully issued panda bonds twice this year, which fully demonstrates investors' high recognition of our group and its operating performance. Currently, the mainland's bond market is huge and has strong potential for development. We will continue to seize development opportunities and be happy to contribute to the deepening of the mainland's capital market.”
Lin Zhan, Chief Financial Officer of Xinchuang GroupIt added: “The Group has always adopted various financing options to optimize capital structure and manage RMB exchange risk. Panda bonds are a relatively low cost financing channel, and can also act as a natural hedge against the group's RMB assets. We will continue to seek cost-effective and sustainable financing options to support the long-term development of our business.”
Newly created Group has previously received a long-term credit rating for “AAA” subjects from a Chinese credit rating agency, United Credit Assessment Co., Ltd.
New Creation Group Co., Ltd.
New Creation Group Limited (Hong Kong stock code: 659) mainly invests in and operates diversified businesses in Hong Kong and the Mainland, including toll roads, construction, insurance, logistics and facilities management.