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Ministry Of Railways 2012 Financing Curtain Up Today

2012/2/22 8:52:00 10

Railway Ministry'S Bond Assets Financing

Interest rate or below market level

According to public information, the 15 billion yuan medium-term note issued by the Ministry of Railways today is 5 years.

By joint credit rating company limited rating, the Ministry of Railways is the main body for a long time.

credit

The level continues to be AAA level, and the intermediate term notes are AAA level.

In 2011, the Ministry of Railways experienced a credit crisis after being hit by the July issue and the "7. 23" motor vehicle rear end accident.

bond

The issue rate has soared.

financing

The cost is also rising.

Since then, under the joint efforts of the Ministry of finance, the State Administration of Taxation and the national development and Reform Commission,

market

Regaining confidence, the interest rate of the Ministry of Railways has continued to fall, and has been further sought after by the government as a "government backed bond".

Bond traders said that the central bank lowered the deposit reserve rate this week. At present, the funds are not tight. The Ministry of Railways should issue the bill smoothly, and it is expected that the winning rate will be slightly lower than the market level.

However, the rating report points out that although the level of liabilities of the Ministry of Railways is still at a reasonable level, with the expansion of the scale of railway construction investment, the future asset liability ratio of issuers may still rise further.

Railway ministry seeks multi-channel financing

Yesterday, it was reported that the Ministry of Railways intends to issue a total of about 150 billion yuan of corporate bonds, which is still in the process of approval, but this information has not been officially confirmed.

Earlier, Railway minister Sheng Guangzu has said that this year the Ministry of Railways will expand the scale of railway construction bonds, and increase the number of bonds.

loan

Efforts should be made to make full use of the market-based financing tools and attract private capital to further broaden the financing channels.

"In what way can the Ministry of Railways effectively introduce private capital into railway construction, and how much private capital can attract?" is a point of view this year.

A pportation brokerage analyst pointed out.

Societe Generale Securities research report pointed out that after the "7.23" EMU accident, the Ministry of Railways funds problems gradually revealed, as of September 31, 2011, the Ministry of Railways liabilities rate has reached 59.6%.

The report predicts that the Ministry of Railways will have more than 800 billion yuan of funds this year.

Compared with 2011, railway fixed assets investment decreased by 14% and infrastructure investment decreased by 15% this year.

After the construction of the great leap forward in 2008 and 2009, the construction speed of China's railways slowed down in 2011 and 2012 and entered a period of steady development.