XCMG, China’s leading heavy machinery manufacturing company with headquarters in Xuzhou City, disclosed on February 18 that it became the first Jiangsu enterprise to issue a bond of 300 million yuan specially for the prevention and control of the novel coronavirus outbreak.

The money raised will be used to produce machinery for building hospitals in the fight of epidemic and equipment for urban environment disinfection.

With the support from many sides including the Nanjing Branch of People's Bank of China and China Construction Bank, it took only four days to complete the entire process from application to fund transfer. The 5-year corporate bond was sold at a yield of 2.69 percent.

Sources said that the successful issuance of the bond not only solved the urgent need for low-cost funds for production in the outbreak, but also further eased the operational and financial pressures on some small and micro private enterprises within its own industrial chain of XCMG.

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