ZDS has successfully completed the 2015 enterprise bond issuance for Yaodu Construction and Development Investment Co., Ltd., in which ZDS was engaged as the sole lead manager. The deal size is CNY1.2 billion with a 7-year maturity and an annual coupon rate of 7.19%.

Yaodu Construction and Development Investment Co., Ltd. is the company wholly owned by the Yaodu District government, and its operation is directed by the district finance bureau performing the investor’s duties. The issuer’s main business is infrastructure constructions and state-owned assets management in the Yaodu District. The issuer is the key corporate body through which the government conducts urban development.

This deal is another impressive success for the issuer and ZDS after their first cooperation on bond issuance in 2013. Based on ZDS‘ good communication with National Development and Reform Commission, the issuance approval was granted after only 3-month regulatory review. And ZDS successfully lowerd financial costs for the issuer by arranging issuance in Mid-March when People's Bank of China just cut interest rates.

The success of this bond issuance is a meaningful step forward for ZhongDe Securities to develop the Shanxi market.