Recently, Beijing Sitrust Hi-tech Development co., Ltd. (“Sitrust”) successfully issued a ￥350 million corporate bond known as “20 Sitrust bond” in the Bond Market of Shanghai Stock Exchange.

This was the first tranche of a 1.1-billion-yuan non-public bond (also called private bond) issued by Sitrust. This bond has a five-year maturity, a coupon rate of 4.65%, with its issuance cost the lowest of its kind.  

From July to December 2019, Sitrust actively carried out relevant work, including due diligence and corporate credit rating prior to the issuance, in cooperation with Huachuang Securities co., Ltd. and evaluation intermediaries.

Filing the application with Shanghai Stock Exchange in early 2020, the company was approved to issue non-public corporate bonds with a total amount no more than 1.1 billion yuan.  It has now completed the first issuance, and the remaining bonds of 750 million yuan will be issued in the future.