Second batch of Expo bonds starts trading
(expo2010china.com)Updated: 2007-03-27 16:24
 Zhong Yanqun and Bai Wenhua ring the bell to start the trade of Expo bonds in the Shanghai Stock Exchange.  |
The second batch of Shanghai World Expo bonds started trading on the Shanghai Stock Exchange this morning.
The 4-billion-yuan (US$519 million) bonds were issued by Shanghai World Expo Land Holding Co Ltd to fund the construction of Expo's major projects.
Zhong Yanqun, standing deputy director of the Shanghai 2010 World Expo Executive Committee, attended the ceremony and Bai Wenhua, president of the Shanghai World Expo Land Holding Co Ltd, rang the bell to signal the start of the trade.
China's National Development and Reform Commission approved 8 billion yuan bonds to support the World Expo 2010 Shanghai. It was the first time that China financed an international pageant via bonds.
The first batch of bonds worth 1.5 billion yuan was listed on the market on January 18.
This batch of bonds, 4 billion yuan in total, can be divided into two categories: 2 billion yuan of 10-year bonds with a fixed annual interest rate of 4.05 percent and 2 billion yuan of 15-year bonds with a fixed annual rate of 4.15 percent.
The code for the 10-year bonds was "120701" and the 15-year bonds "120702".
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