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Chinese Companies Sell $300 Million of Bonds for Coronavirus Fight

By Peng Qinqin and Denise Jia / Feb 06, 2020 05:57 AM / Finance

Photo: Bloomberg

Photo: Bloomberg


Three Chinese companies are issuing a total of 2.1 billion yuan ($300 million) of bonds to raise funds for prevention and control of the coronavirus epidemic.

China South Mountain Development (Group) Inc., a state-backed property developer and logistics company that participated in building two new temporary hospitals in Wuhan for coronavirus patients, issued 300 million yuan Wednesday of ultra-short-term bonds.

The Shenzhen-based company said 200 million yuan will be used to cover expenses of its subsidiary for hospital-building and logistics in Hubei. The rest will be used by its logistics units to provide transit services for emergency supplies.

Zhuhai-based developer Huafa Group Co. issued 1 billion yuan of 90-day bonds with a coupon rate of 2.5%. The company said 50% of the proceeds will be directly used for prevention and control of the epidemic and liquidity demand for subsidiaries related to the epidemic.

Sichuan Kelun Pharmaceutical Co. Ltd. issued 800 million yuan of 270-day bonds Thursday. The drug maker provides infusion medicines to one of the newly built coronavirus hospitals in Wuhan. The company said the proceeds will be used to purchase materials for the production of coronavirus-related medicines.

Contact reporter Denise Jia (

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