Weichai Power Mid-term Notes Approved
On August 24, 2009, Weichai Power's mid-term bills were publicly issued on the national interbank bond market with a issuance amount of 1.3 billion yuan and a term of 5 years, underwritten by China Merchants Bank Co., Ltd. Under the circumstances that market financing continued to be sluggish, on August 25th, the company’s public offering of the first medium-term notes funds had been fully paid. Medium-term notes refer to the financing notes that usually last between 5 and 10 years. It is relatively simple to register, requires shorter issuance time, has a higher level of credit and lower financing costs, and has a smaller financing scale. Large, period of 3-5 years; issue registration system, one registration, sub-distribution; limited balance of debt repayment; can issue pure credit, no mandatory guarantee terms; use of mobilized resources is not limited to the project; information disclosure supervision More relaxed. When a company issues medium-term notes, it usually arranges a flexible issuance mechanism through the contractor experience. Through a single issuance plan, it can issue multiple notes of different durations, which can better meet the financing needs of the company. China launched the medium-term notes business in 2008. Weichai's 2009 medium-term notes was registered on August 3 by the China Association of the Interbank Market Dealers' Registration Notice, and the approved amount of the registered medium-term notes was RMB 2.7 billion. It can be issued in phases within two years after the registration is valid. . Through the issuance of medium-term notes, Weichai Power can use this low-cost capital to raise 2.7 billion yuan. Compared with five-year loans, the 2.7 billion yuan mid-term bill financing costs will save about 100 million yuan.
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