On March 31, the reporter learnt from Yichang State-owned Investment Group that the Yichang Financial Economic Development Investment Company , which is attached to Yichang State-owned Investment Group, successfully registered non-public directional debt financing tools (PPN) with the first sum of the total fund reaching 0.155 billion dollars, which has been approved by National Association of Financial Market Institutional Investors.

It is the first non-public directional debt financing tool at district (county) level in Hubei Province and the first product of Yichang High-tech Zone Private Placement Bond. It is also a great achievement after the financial investment company successfully raised a capital of 0.232 billion dollars and got the permit from National Development and Reform Commission to issue corporate bonds in October 2012.

PPN, registered and issued in National Association of Financial Market Institutional Investors, will focus on financial investment companies, with a total amount of 0.155 billion dollars, which will be issued in two batches during the validity period of 2 years, with the first issuing no less than 77.3 million dollars within the second month after registration. The bond issue period will be no longer than 3 years and clients don’t need to be guaranteed. The PPN adopts fixed interest rates and coupon rate depends on bookkeeping and bookbuilding programs.

The successful PPN issue indicates that financial investment companies have gradually transformed into the primary and secondary financial markets in financing mode and direction, whose financing channel is no longer limited to traditional direction and financing ability increases great. In recent years, Yichang State-owned Investment Group has achieved the total financing amount of more than 3.092 billion dollars by direct and indirect financing modes.  (Correspondent Zhang Aihua, Reporter Zhang Liang)