SDIC issues renewable corporate bond for epidemic prevention, control

Source: Xinhua | 2020-02-22

The State Development and Investment Corp. (SDIC), a major state-owned investment company, issued a special-purpose renewable corporate bond worth 500 million yuan (about 71.21 million U.S. dollars) for epidemic prevention and control at the Shenzhen Stock Exchange, sources with the SDIC said Friday.

The bond has an issuing interest rate at 3.38 percent, and the money raised will be prioritized for the production of epidemic prevention materials for the SDIC subsidiary.

The SDIC will take a multi-pronged approach to navigate the financial resources to support enterprises in resuming work and production, according to the SDIC.

The China National Investment and Guaranty Corporation under the SDIC also decided to waive the insurance payments of 20 enterprises directly involved in the epidemic prevention, the national economy and people's livelihood for two months to ease the pressure on the small and micro-enterprises.