ZDS has successfully completed the 2015 enterprise bond issuance for Tianjin railway construction investment holding(group) co., LTD., in which ZDS was engaged as the lead manager. The deal size is CNY2.4 billion with a 10-year maturity and an annual coupon rate of 5.58%.

Tianjin railway construction investment holding(group) co., LTD is approved by the Tianjin government, investor duties by Tianjin rail transit group co,. LTD. The issuer’s main business is railway infrastructure investment and construction in Tianjin, and also engaged in railway freight lines, railway facilities operation and city development, etc.

Based on ZDS‘ outstanding communication with National Development and Reform Commission, the issuance approval was granted after only 3-month regulatory review. Meanwhile, ZDS successfully reduced financial costs for the issuer by arranging issuance in early April, which seized the open window when the market interest rate went down. The success of this bond issuance is a meaningful step forward for ZhongDe Securities to develop the Tianjin market.