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ChineseSINOTRUK Overseas Financing Won the Annual Award for Excellent Marketing Project of Bank of China
SINOTRUK Overseas Financing Won the Annual Award for Excellent Marketing Project of Bank of China
Corporate news Date:2013-06-20
In 2013, China National Heavy Duty Truck Group Co., Ltd. (SINOTRUK) participated in the eva luation of excellent projects hosted by Bank of China for all the projects it manages, and won the Annual Award for Excellent Marketing Project of 2012 of Bank of China regarding business line after multiple screening and comparison and assessment.
In March 2012, Bank of China Jinan Branch, together with Bank of China (Hong Kong), granted SINOTRUK (Hong Kong) Limited a biennium RMB syndicated loan of 1.8 billion, which is the first overseas RMB syndicated loan issued by Hong Kong, Macao and Taiwan Branches jointly, and the first overseas RMB syndicated loan using the benchmark interest rate for loan of the People's Bank of China. It's also the largest pure offshore RMB syndicated loan (CNH) in Hong Kong market. Since 2012 the largest RMB cross-border settlement business in amount has entered in FDI form. The borrowing cost is much lower than the benchmark interest rate for loan of domestic bank of the same grade, optimizing SINOTRUK's debt structure and promoting SINOTRUK's financing ability in Hong Kong, Macao and Taiwan capital markets. Thereafter, Bank of China Jinan Branch, together with Bank of China (Hong Kong), issued bonds of RMB 1.8 billion in Hong Kong for SINOTRUK (Hong Kong) Limited successfully, and together with Macao Branch and Tai Fung Bank, conducted one more club loan of RMB 900 million successfully. Bank of China has provided SINOTRUK (Hong Kong) Limited with financing of RMB 4.5 billion in three separate loans of a year by internal and external cooperation, providing our group's overseas business with abundant capital and service, thus expanding the window for Jinan economy to go abroad.
Reporter: Ms. Zhang
Editor: Nina Liu