On March 7, Shanghai State-Owned Assets Management Co., Ltd. (SSAM) successfully issued its first-tranche corporate bonds in 2023, with a scale of 1 billion yuan and a coupon rate of 3.08%, registering the lowest interest rate among corporate bonds issued with the same term on the stock exchange this year.

    Since the end of last year, a slate of optimization policies for economic development has been rolled out, the bond market has been depressed, and interest rates have shot up. Since the beginning of this year, bond issuance has remained sluggish despite a slight recovery of the market. SSAM has paid close attention to market trends, efficiently coordinated with lead underwriters to follow up on the intentions of credit-extending banks, non-banking institutions and other parties to subscribe, and finally gained 4.76 times of subscription and a total contribution of nearly 5 billion yuan from investors on the bookkeeping day, thus completing issuance far below market valuations.

    The successful issuance fully shows investors' high recognition of quality market subjects. This year, SSAM will conduct elaborate planning, properly cope with the year of bond issuance, make a good start for its new three-year action plan, strive forward while serving SIG's major strategies, endeavor to lead local state capital platform companies forward, and better serve the national and municipal strategies for industrial development.