On 10 September, China Oceanwide (000046.SZ) successfully issued RMB4 billion worth of private equity corporate bonds. The offline issuing value of the bonds was planned at RMB4 billion, and the actual figure was RMB4 billion, realizing the target in full.

This is the first issue of corporate bonds by China Oceanwide after getting the non-objection letter for private issuing of RMB7.2 billion corporate bonds from the Shenzhen Stock Exchange in July this year. It is also another large-value financing after the successful issue of RMB700 million medium-term notes days ago.

Many companies have downsized bond issuing in recent months against the capital market volatility and financing difficulties. What’s more, the introduction of new asset management rules is also considered to make it more difficult for real estate developers to raise funds.

In this context, China Oceanwide, by successfully issuing RMB4 billion of corporate bonds, has not only received strong funding support, but also won the capital market’s confidence in its future development.

The year 2018 sees a large part of debts mature at China Oceanwide. Recently, China Oceanwide has continuously repaid a multiple of due debts exceeding RMB7 billion to its Chinese and foreign borrowers on schedule.

In response to the current market situation, China Oceanwide emphasized that it would adopt multi-pronged measures including accelerating the collections of real estate project sales money, improving the profitability and dividends payout of financial platforms, and comprehensively using banks, trusts, bond issuing and other channels to raise funds, and well arrange funds across the board to ensure that domestic and foreign debts are repaid on time and in full.