Jointown Pharma Issues 1 Billion Yuan in Asset-Backed Securities
Jointown Pharmaceutical (SHA:600998) completed the issuance of 1 billion yuan in asset-backed securities, according to a Shanghai bourse filing on Thursday.The securities carry a coupon rate of 1.75% and mature on June 8, 2028.The issuance comprises a senior tranche worth 950 million yuan and a subordinated tranche of 50 million yuan.The Chinese pharmaceutical company's controlling shareholder, Chuchang Investment Group, subscribed to the subordinated tranche.