CCDC Shenzhen Center Supported the First Issuance of Toll Road Special Bonds
On August 10,
Guangdong Province government issued, within the envelope approved by State
Council, the first local government toll road special bonds by tender through
MOF Government Bonds Issuance System in CCDC Shenzhen Center. The 7-year
special bonds amounted to 6.3 billion RMB, with the interest rate of 3.99%. Deputy-director
Xiao Hongmei of Guangdong Province Department of Finance instructed and
witnessed the issuance.
province government toll road special bonds are rated AAA. The raised funds
will be used in construction of Dongshan-Chaozhou Guxiang Highway and other 13
government owned toll roads, and debt servicing funds are from the toll income
of these projects. During the tender, CCDC Shenzhen Center provided on-site issuance
service support. The Guangdong Provincial Government Audit Office sent
observers to carry out on-site supervision to ensure that the tender was
conducted in an equal, fair and orderly manner.
Prior to this
issuance, Ministry of Finance and Ministry of Transport jointly issued a notice
on July 12, allowing issuing local government toll road special bonds from
2017. The proceeds, expenditure, redemption and interest payments shall be covered
in the governmental fund budget, with a high degree of debt protection and
transparency of the use of funds.