On October 3, 2.6 billion of 3-year bonds were successfully issued in RMB in Hong Kong by SINOTRANS&CSC, with the funds delivery completed on October 11. Bank of China (Hong Kong) and BOC International (China) Limited, etc. are the main consignees and book runners. This is the first bond-issue on the international capital market by our newly reorganized Group.
　　The capital collected from this bond is intended for cross-border trading in RMB, as part of the efforts to realize the national policy on further promotion of cross-border trade settlements. It will significantly advance the organic combination of cross-border settlement in RMB and the core business for the Group, promote intensive management level of overseas settlement business and foreign exchange risk, and gradually realize the integrative operation of domestic and overseas capital to save on total financing cost.
　　The Group was faced with challenges including worsening US and European debt crisis, sharp fluctuations on the international capital market and investors’ strong risk-averse sentiments during the bond-issue period. However, with efforts of the Group, we achieved the largest financing scale and lowest financing cost in the past three months in Hong Kong bond market. Consequently, we obtanined good response from the overseas capital market, effectively promoting the international reputation of our Group. This has laid a solid foundation for overseas financing for the Group.
　　(From: Sinotrans&CSC)