SINOTRUK Overseas Financing Won the Annual Award for Excellent Marketing Project of Bank of China
In 2013, China National Heavy Duty Truck Group Co., Ltd. (SINOTRUK) participate in all project management evaluation of the Chinese bank sponsored by the excellent project, and won the Annual Award for Excellent Marketing Project of 2012 of Bank of China regarding business line after multiple screening and comparison and assessment.
In March 2012, Bank of China Jinan Branch, together with Bank of China (Hong Kong), granted SINOTRUK (Hong Kong) Limited a biennium RMB syndicated loan of 1.8 billion, which is the first overseas RMB syndicated loan issued by Hong Kong, Macao and Taiwan Branches jointly, and the first overseas RMB syndicated loan using the benchmark interest rate for loan of the People's Bank of China. It's also the largest pure offshore RMB syndicated loan (CNH) in Hong Kong market. Since 2012, the size of the RMB cross-border settlement business has entered the form of foreign direct investment. Borrowing costs are much lower than the benchmark interest rate for the same grade in china, optimizing SINOTRUK's debt structure and promoting SINOTRUK's financing ability in Hong Kong, Macao and Taiwan capital markets. Thereafter, Bank of China Jinan Branch, together with Bank of China (Hong Kong), issued bonds of RMB 1.8 billion in Hong Kong for SINOTRUK (Hong Kong) Limited successfully, and together with Macao Branch and Tai Fung Bank, conducted one more club loan of RMB 900 million successfully. Bank of China has provided SINOTRUK (Hong Kong) Limited with financing of RMB 4.5 billion in three separate loans of a year by internal and external cooperation, providing our group's overseas business with abundant capital and service, so as toexpanding the window for Jinan economy to go abroad.
