By Mary-Katherine Stinson
Lexington, Ky., Dec. 29 – China Shengmu Organic Milk Ltd. received approval by the National Association of Financial Market Institutional Investors to issue its first tranche of 3.95% domestic ultra short-term social responsibility debentures totaling RMB 100 million, according to a notice.
The short-term debentures are the first successful issuance of social responsibility debentures as well as the first private enterprise Panda Debentures with credit risk mitigation warrant placement in China.
Industrial Bank Co., Ltd. is the lead underwriter.
The issuer was rated AA by China Chengxin International Credit Rating Co., Ltd. and was independently assessed and certified by China Chengxin Green Finance Technology (Beijing) Ltd. in respect of social responsibility elements of the debentures.
Proceeds will be used purchase forage from farmers and agricultural cooperatives in remote areas in China, helping low-income groups secure stable income, reinforcing achievements in poverty alleviation and contributing to rural revitalization.
The milk producer is based in Dengkou, China.
| Issuer: | China Shengmu Organic Milk Ltd.
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| Issue: | Social responsibility debentures, first tranche
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| Amount: | RMB 100 million
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| Coupon: | 3.95%
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| Underwriter: | Industrial Bank Co., Ltd.
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| Distribution: | China
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