BEIJING/SHANGHAI, Oct 10 (Reuters) - Oil refiner Jiangsu Jap Shenghong Co. 000301.SZ has issued a i
BEIJING/SHANGHAI, Oct 10 (Reuters) – Oil refiner Jiangsu Jap Shenghong Co. 000301.SZ has issued a inexperienced bond price 1 billion yuan ($140.60 million) to assist fund a serious petrochemical advanced, turning into the most recent Chinese language firm to make use of inexperienced financing to develop fossil fuels.
The bond is the biggest single inexperienced company bond issued by a privately owned agency in China, whereas the corporate is a listed department of main refining company, Shenghong Group.
Chinese language coal, oil and fuel producers are allowed to make use of inexperienced financing to pay for clear expertise and effectivity upgrades, however regulators have been below strain to drag guidelines nearer in step with worldwide requirements that ban such sorts of funding.
Chinese language monetary establishments offered at the least $1 billion in inexperienced financing to coal-related tasks within the first half of this yr, a assessment of economic knowledge confirmed.
Shenghong’s bond, with a 6% coupon, is a private provide, the corporate stated in a press release to the Shenzhen…