MOX welcomes the listing of Beijing Infrastructure Investment Co., Ltd.'s USD 400M bonds in Macao and Luxembourg

On 22nd October, 2021, Beijing Infrastructure Investment Co.，Ltd. (“BII” or “the company”) successfully listed USD 400M 3-year 1.35% senior unsecured notes (the “Notes” ) on MOX and LuxSE. The Notes was fully priced at T3+75 basis points, which is the lowest coupon rate among offshore US dollar bonds issuance by Chinese local state-owned enterprise.

Beijing Infrastructure Investment Co., Ltd. was established in 2003. BII’s predecessor is Beijing Municipal Subway Company established in 1981. BII is a stated-owned company wholly-owned by the Beijing SASAC and is responsible for infrastructure investment and financing, primarily in mass transit rail. BII is responsible for the overall services along the entire industry chain including urban rail transit investment and financing, construction and management, operation, land and property development and equipment manufacturing, and has a dominant position in the Beijing rail transit industry. As of the end of 2020, the company's total assets reached 707.4bn yuan, net assets reached 251.4bn yuan. BII has received A1, A+, A+ international ratings from Moody’s, S&P, Fitch respectively.

The successful debut of the Notes in Macao and Luxembourg further broadens BII’s overseas financing channels, enhances the company's profile and influence internationally and supports BII’s engagement with the financial cooperation and innovation along the Belt and Road. MOX welcomes BII to list their bonds in Macao again, marking the first quasi-sovereign-rated company to be dual-listed in Macao and Luxembourg via the “One-Stop Dual Listing” services provided by MOX. It is expected that the cooperation will give full play to the advantages of MOX as an overseas platform, support the high-quality development of Beijing's rail transit industry, and promote financial cooperation between Beijing and Macao to a new level.