Abstract : Hongshi Holding Group Co., Ltd. (Hongshi) successfully issued 3-year corporate bonds of 300 million yuan for Belt and Road construction on January 19, according to a source from the Shanghai Stock Exchange.

BEIJING, Jan. 24 (Xinhua) -- Hongshi Holding Group Co., Ltd. (Hongshi) successfully issued 3-year corporate bonds of 300 million yuan for Belt and Road construction on January 19, according to a source from the Shanghai Stock Exchange.

This has been the first domestic corporate bond for Belt and Road construction.

Underwrittern by Guotai Junan Securities, the bonds were rated at AAA level and issued with an interest rate of 6.34 percent and a subscription rate of 2.67 times. 

The funds raised from the bond issuance will be used to purchase the equipment for Hongshi's cement project in Vientiane, Laos.

After its completion, the project is expected to produce 2 million tonnes of high-grade cement annually, supplying cement for major infrastructural construction in Laos.

In March 2017, UC Rusal issued a panda bond privately on the Shanghai Stock Exchange as the first panda bond issued by countries along the Belt and Road. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)