On November 25 2013, the first batch of 2013SMEs collective notesin Liuzhou (“1柳州SMECN Ⅱ001”, Code No.:051302024), Guangxi Zhuang Autonomous Region, were successfully issued and tradable from November 28. The RMB268mln worth of bonds, with a coupon rate of 8% and a maturity of three years, were collectively issued by Sanmenjiang Forest Farm, Liuzhou Department Store Corp., Ltd. and Liuzhou GuizhongHaixun Logistics Corp., Ltd..

Shanghai Pudong Development Bank acted as the lead underwriter for the notes, Dagong Global Credit Rating Co. as rating agency and Dacheng acted as legal advisor for the issuer. The task was completed by a team composed of attorneys Liu Chengquan, PengSongzhi and Huang Yijie.

The collective notes, protected by a special fund set up by the government of Liuzhou for the purpose of mitigating potential risks involved in SMEs’ direct debt financing instruments, were sold to institutional investors in the national interbank bond market. The issuers are all qualified, carefully selected SMEs with good market prospects in Liuzhou.