Zitong Financial App NewsletterBeijing Water Control Group (00371)The announcement on the approval of the China Securities Regulatory Commission for the public issuance of renewable corporate bonds with a total face value of not more than RMB 5 billion by Beikongshui (China) Investment Co., Ltd., a wholly-owned subsidiary of the Company.

Corporate bonds will be issued in phases, of which the first renewable corporate bonds of RMB 1 billion have been listed on the Shanghai Stock Exchange. The issuer plans to issue the second phase of renewable corporate bonds of no more than RMB 2 billion, and the issuer will negotiate with the lead underwriter to determine the issue time, issue scale and other terms and conditions according to the capital demand and market conditions at the time of issue. the final coupon rate will be determined according to the bookkeeping and filing process of the lead underwriter. The second tranche of corporate bonds shall be completed within 12 months from the date on which the CSRC agrees to register, and the remaining issues shall be completed within 24 months from the date on which the CSRC agrees to register.

The company plans to list its bonds on the Shanghai Stock Exchange, the announcement said. The issuer intends to use the proceeds deducted from the issuance of bonds to repay the issuer's interest-bearing debt.

According to the results of bookkeeping and filing, it is finally determined that the coupon of the second issue of renewable corporate bonds is 3.79%.