On February 11, the third tranche of Jointown Pharmaceutical Group’s 2020 ultra-short-term financing bonds (bonds specially for epidemic prevention and control) undertaken by Industrial and Commercial Bank of China were successfully issued, with the issue size and coupon rate at RMB1 billion and 2.90% respectively. The raised funds will be used to meet the demand in the battle against the novel coronavirus (2019-nCoV).
Jointown Pharmaceutical Group, whose headquarter is located in Wuhan, is a private company fighting in the frontline against 2019-nCoV. After the outbreak of the epidemic, ICBC took the initiative to formulate bond-financing plan to meet Jointown’s financing needs, and efficiently completed the whole process of approval, filing, etc., making sure that funds could be in place rapidly, and medical materials could be supplied to the front line timely.
After the outbreak of 2019-nCoV, ICBC, in view of the features of corporate demands for funds, has taken targeted measures covering loan, bonds, leasing, equity investment, wealth management, etc., to assist enterprises nationwide in battling against 2019-nCoV, as well as in their production and operations. In the meanwhile, by opening green channel, improving approval efficiency, innovating and optimizing financing, offering prime rates, and so on, the bank further improves the efficiency and quality of its financial services to boost smooth and healthy development of the real economy.