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The First Private Placement Bond in Stone Industry Fell in UMGG
Posted in:2014-05-12 Visitors:
The first private placement bond in stone industry fell in UMGG. The private bond of UMGG issued and underwritten by Citic Securities was listed and issued in Shenzhen Stock Exchange, with issuing scale of 150 million and issuing period of 2 years.
Roundup by reporter Long Huigang according to Stone Magazine, Dongguan Daily, Dongguan Times, Dongguan Time.com and hexun.com The first private placement bond in stone industry fell in UMGG. The private bond of UMGG issued and underwritten by Citic Securities was listed and issued in Shenzhen Stock Exchange, with issuing scale of 150 million and issuing period of 2 years. This is the private bond with the biggest issuing scale of Dongguan enterprises since private bond is launched for over 1 year.
Currently, Dongguan has introduced relevant policies on municipal financial department issuing private discount bond to enterprises and supporting middle and small-sized enterprises to issue private bonds financing.The second private bond of middle and small-sized enterprise in Dongguan：
The middle and small-sized enterprise private bond of UMGG has issuing period of 2 years and issuing scale of 150 million. According to the operating condition and fund use needs, the underwriter Citic Securities designs flexible issuing way: 100 million issued in phase-I and 50 million in phase-II.
This is the biggest private bond issued by Dongguan enterprise so far, and also the first middle and small-sized private bond successfully issued in stone industry. “The successful issuing of private bond enriches the financing method of our company, optimizes financial structure and effectively solves long-term fund demand of the company” expressed related officials of UMGG.
UMGG set up factories in Dongguan in 1991. Based on middle and high-end stone engineering market, UMGG currently has become the one of the biggest stone processing enterprise in Asia and also one of the first back-up listed enterprises identified by Dongguan government.Private bond financing subsidized by government：
“For enterprises, middle and small-sized private bond is a kind of convenient and efficient financing method, its issuance examination adopts filling system with short period of examination and approval” said Cao Hong. For example, the private bond of UMGG only takes 2 months from materials preparation and issuing.
According to the reporter, Dongguan enterprises will be subsidized for issuing private bond. According to the Interim Procedures of Dongguan to Support Middle and Small-Sized Enterprises to Issue Private Bond, the municipal financial department provides interest subsidy support to the first 10 middle and small-sized enterprises that successfully issue private bond at the rate of 2% of amount issued in the first year, the subsidy amount of each enterprise is no more than 500,000.Related Links：