In December 2022, Bank of Communications Co., Ltd. successfully issued 2022 special financial bonds for loans to small and micro enterprises. JT&N, as a special legal adviser of Bank of Communications, provided full legal services for the issuance of bonds.
The scale of this bond is CNY 60 billion, which was issued in two phases on June 15, 2022 and December 9, 2022. The issuance scale is CNY 30 billion, and the bond term is 3 years, in which the coupon rate of the first bond is 2.75% and the subscription multiple is 2.26 times, and the coupon rate of the second bond is 2.98% and the subscription multiple is 1.64 times. All the funds raised from the two bonds will be specially used for granting loans to small and micro enterprises, increasing credit support for small and micro enterprises, and promoting the steady and healthy development of the Bank's small and micro enterprise business. The bond investor structure is diversified, covering banks, funds, securities, insurance, finance companies and other institutions, which fully reflects the high recognition of investors for the investment value of Bank of Communications.
Jiangxia LU and Mingliang XIA, senior partners of JT&N, were the project leaders of this bond, and partners Lei ZHANG and Wei YAO and lawyer Songyu XIANG jointly provided high-quality and efficient legal services for this bond issuance project of Bank of Communications.
As a state-owned commercial bank and a systematically important bank in China, Bank of Communications implements the spirit of the 20th National Congress of the Communist Party of China, resolutely implements the decisions and arrangements of the CPC Central Committee and the State Council, raises Inclusive Financing to a strategic height, and promotes the expansion, increment, quality improvement and cost reduction of Inclusive Financing. It is committed to solving the financing difficulties, complicated financing and slow financing problems of small and micro enterprises, realizing the “two-wheel drive” of online standard products and personalized scene customized products, meeting the diversified and differentiated financial needs of small and micro enterprises, focusing on small and micro science and technology innovation, green finance, industrial chain and other national key strategic areas to provide small and micro financial services, and fulfilling the responsibility of state-owned banks.
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