The Yangzhou Chemical Industrial Park corporate bonds have been successfully used to raise corporate development funds of 1 billion yuan in just 10 days.
Yangzhou City Development and Reform Commission took the lead, Yangzhou Chemical Industry Park corporate bonds approved by the National Development and Reform Commission, on April 27, the sales and distribution network, May 6 release completed. Since the approval of the establishment of the provincial chemical industry park in May 2006, Yangzhou Chemical Park has achieved rapid development. At present, it has attracted Hong Kong Jianye Group, Taiwan Far East Group, Taiwan Dalian Chemicals, Sinochem Group, Japan Sumitomo Refined A number of world-renowned large-scale petrochemical enterprises have been stationed in Korea, Kumho Chemical, and South Korea. The industrial chain with petrochemical, basic chemical, synthetic materials, fine chemical and chemical materials, and petrochemical logistics have been preliminarily constructed with ethylene, propylene and aromatics as the leading products. The development trend of five major industries such as agglomeration. In 2011, Yangzhou Chemical Industrial Park achieved a total industrial output value of 46.179 billion yuan, an increase of 27.3% over the same period of last year.
The person in charge of the Yangzhou Chemical Park stated that the rapidly developing chemical industry has put forward more requirements for industrial supporting facilities, and has also raised more funding requirements for project construction. In order to solve the contradiction between large-scale development of the park and insufficient funds, the park decided to solve the infrastructure and funding sources for project construction by issuing corporate bonds. The newly raised one billion yuan of funds, of which 600 million yuan will be used for the phase II of the liquid chemical terminal in Yizheng port area of ​​Yangzhou port, the olefin transfer pipeline in the park, the 20,000 cubic meters of ethylene cryogenic storage tank, and the supporting public park corridors, one, two, and three. During the period of project construction, 200 million yuan was used to repay bank loans, and 200 million yuan was used to supplement company operating funds.
The person in charge of the Yangzhou City Development and Reform Commission stated that relying on the overall strength of the park to issue corporate bonds not only avoided the bank’s “single wooden bridgeâ€, broadened the financing channels, but also allowed the funds to be used for a longer period of time, making it easier for the company’s mid- to long-term development strategy to develop. The park's innovative financing is a good inspiration.
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