A few days ago, Lingang Holdings successfully priced and issued Tianjin's first free trade zone offshore bond, with a scale of 460 million offshore RMB, a term of 3 years, and a coupon rate of 6.6%.
Free trade zone bonds are positioned as onshore bonds in the offshore market, which is an important part of the opening and development of my country's bond market. Under the environment of increasing exchange rate risks between China and the United States and increasingly stringent capital market regulation, Lingang Holdings fully grasped the opportunities and advantages of bond issuance in the Free Trade Zone, reached a strategic cooperation with the ASX, landed in the Macau capital market, and combined market and policy changes , Upholding integrity and innovation, the successful issuance of offshore bonds in the free trade zone is an important achievement in the implementation of the visit to the Macau Chinese Enterprise Association led by Vice Mayor Zhu Peng of Tianjin earlier this year to deepen the cooperation and development between Tianjin and Macau.
For this bond issuance, Lingang Holdings was the issuer, Zhongda Securities and Songgang International Securities were the global coordinators, and China Zheshang Bank was the joint bookrunner. With the joint efforts of various parties, the smooth landing of this business was finally realized. At the same time, this bond chooses offshore RMB as the issuance currency, which effectively avoids exchange rate risks, improves the international image in the capital market, and helps attract investment in the region.
The successful issuance of this bond marks that Lingang Holdings has the financing capabilities in both domestic and overseas bond markets, and demonstrates investors’ recognition and confidence in the overall comprehensive strength and future development of the Tianjin Port Free Trade Zone and even Tianjin City. Innovative development provides strong support.
In the next step, Lingang Holdings will take the issuance of offshore bonds in the free trade zone as a new opportunity and a new starting point to thoroughly study and implement the spirit of the 20th National Congress of the Communist Party of China, and implement the company's "14th Five-Year "Development strategy as the direction, further work hard, forge ahead, overcome difficulties, break the ice, and contribute to the high-quality development of Tianjin Port Free Trade Zone with powerful work measures and effective work results.
Lingang Holdings was established in May 2007. It is the only investment development and state-owned capital investment operation and management entity in the Lingang area of Tianjin Port Free Trade Zone. Regional construction and development of a comprehensive local state-owned enterprise group with five major business segments. As of the end of 2022, the company's registered capital is 18.711 billion yuan, its total assets are 106.475 billion yuan, it has 37 wholly-owned and holding companies, and its domestic public credit rating is AA+. In the first quarter of this year, under the leadership of the Party Committee and Management Committee of the Tianjin Port Free Trade Zone, the high-level planning of the Lingang Comprehensive Bonded Zone was promoted. Many companies such as CNOOC Bohai New Energy Co., Ltd. settled in the Lingang area. Lingang Holdings seized the opportunity. We will make every effort to plan business expansion and innovative operation of each segment. The operating income is expected to reach 2.09 billion yuan, a substantial increase compared with the same period in 2022. We won the first battle of the year and achieved a "good start" in the first quarter.