Bay Area Development, Subsidiary of Shenzhen Expressway, Secures Approval for RMB Corporate Bonds Issuance in Chinese Mainland
Reuters
Aug 28
Bay Area Development, Subsidiary of <a href="https://laohu8.com/S/SHZNF">Shenzhen Expressway</a>, Secures Approval for RMB Corporate Bonds Issuance in Chinese Mainland
Shenzhen Expressway Corporation Ltd. is pleased to announce that its subsidiary, Shenzhen Investment Holdings Bay Area Development Company Limited, has received approval from the China Securities Regulatory Commission to register for the issuance of RMB corporate bonds, known as Panda Bonds, in the Chinese Mainland. Bay Area Development, which is approximately 71.83% owned by Shenzhen Expressway, plans to issue these bonds to professional investors with a total nominal value not exceeding RMB2 billion. The Panda Bonds may be issued in multiple tranches over a 24-month period starting from the date of approval. These bonds are proposed to be listed on the Shenzhen Stock Exchange, and the specific terms, including timing and size, will be determined based on market conditions. Investors are advised to exercise caution when dealing in the securities of Shenzhen Expressway and Bay Area Development.
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