Guiyang State-owned enterprise issues $142m in medium-term notes

Guiyang Industrial and Commercial Investment Group successfully issued 957 million yuan ($141.62 million) in medium-term notes on Aug 5, making it the first State-owned enterprise in Guiyang to successfully issue bonds this year.

The medium-term note is underwritten by CITIC Securities and China CITIC Bank, and is guaranteed by Guiyang Industry Holding Group.

Medium-term notes are negotiable securities issued by non-financial enterprises with legal person status in the inter-bank bond market and must have their principal and interest repaid within a certain period. The funds raised are mainly to meet the long-term capital needs of enterprises.

The successful issuance of medium-term notes will help strengthen the credit awareness of enterprises, saving them financing time and reducing financing costs.

This issuance fully reflects the public bond market's recognition of Guiyang Industrial and Commercial Investment Group's business performance, management quality, and development potential, and will help the enterprise optimize its debt financing structure, improve its financing capabilities, and continue to grow and develop. It also provides strong impetus for the high-quality development of the enterprise.