Chinese companies issue bonds to weather coronavirus outbreak
Three Chinese companies have completed the issuance registration of bonds for the prevention and control of the novel coronavirus outbreak.
Zhuhai Huafa Group, Sichuan Kelun Pharmaceutical Co., Ltd., and China Nanshan Development (Group) Co., Ltd. have completed the issuance registration of a total of 2.1 billion yuan (over 300 million U.S. dollars) of ultra-short-term financing bonds.
The 2.1 billion yuan is used to support the construction of Wuhan's Huoshenshan and Leishenshan Hospitals and also the research and production of antiviral drugs.
Huafa issued one billion yuan of ultra-short-term financing bonds, and 500 million yuan of the raised funds will be used to supplement the group's demand for liquidity funds following its donations to epidemic-hit areas and relief of rent for merchants affected by the epidemic.
Kelun raised 800 million yuan by issuing ultra-short-term financing bonds, with 200 million yuan for developing and producing antiviral drugs and purchase of protective medical materials to support construction of Huoshenshan Hospital in Wuhan, the epicenter of the coronavirus outbreak.
Nanshan also completed the information disclosure of 300 million yuan of bonds, and 200 million yuan of the raised funds will be used to support its subordinate companies to participate in the construction of hospitals such as Huoshenshan and Leishenshan, as well as to ensure smooth logistics in the epidemic areas.