Sinomach issued its bonds for epidemic prevention and control on Feb 28. [Photo/sinomach.com.cn]

In order to further support the fight against the epidemic and ensure business development Sinomach issued its corporate bonds (phase I) this year for epidemic prevention and control on the Shanghai Stock Exchange on Feb 28, with a value of 2 billion yuan ($287.6 million). Part of the capital raised will be used for various production inputs for epidemic prevention to support the company’s epidemic work.

The corporate bonds, with a term of 3+2 years, were greatly favored by investors during the issuance process, with a 3.02% final coupon rate, the lowest since 2017, reflecting the high recognition of Sinomach in the capital market.

Sinomach has given full play to its strengths and advantages to meet the country’s needs since the outbreak, with more than 20 subsidiaries of the company now devoted to the production and research and development of epidemic prevention supplies as well as related services.