CMBS of Wisco Building was successfully issued

2022-05-01 0 By

On January 21, Wisco Group successfully issued THE CMBS of Wisco Building — the special asset support plan of Wisco Building worth 522 million yuan in Shanghai Stock Exchange, with the interest rate of priority asset-backed securities issued at 3.45%. The issuance term was 18 years, and the first closed period was 3 years. Warburg Securities acted as the special program manager and Warburg Trust provided professional support.As many as 10 state-owned banks including ICBC and Bank of China, as well as national joint-stock commercial banks including MINsheng Bank, Everbright Bank, Industrial Bank and China Merchants Bank have actively participated in the issuance of CMBS in this single issue.CMBS of Wisco Building is the first attempt of the real estate asset securitization product of industrial land of Wisco Group and Baowu. It is of exemplary significance in expanding financing channels, realizing the virtuous cycle of assets and capital, and exploring the asset securitization of industrial parks.Wisco Building project is located in Youyi Avenue, Hongshan District, Wuhan city. It is divided into office block A and office block B. It is an intelligent comprehensive high-grade office building with administrative office, conference and reception functions.The building is 125 meters high, with 30 floors above ground and 2 floors underground. The floor area ratio is 1.71 and the height is 3.9 meters.Overlooking the Yangtze River in the north and east Lake in the south, the project enjoys a panoramic view of the beautiful scenery of Wuhan and enjoys the advantages of wuhan world.Standing in the core of Wuchang, double bridge double avenue, left Wuhan Avenue Xudong business district, to the right of the second ring Qingshan Binjiang, and erqi binjiang business district across the river, Hankou core business district across the bridge is up to, double metro (4/8) service, the project to out-of-print area, give the corporate headquarters some “status”.The project has about 30,000 square meters of forest-level green landscape, and creates the history of ecological office building with humanistic care. It takes the lead in integrating natural, healthy and comfortable concepts for wuhan business office, so that the office environment in line with the world can be presented simultaneously in Wuhan.Wuhan Iron and Steel (Group) Corporation is the first super-large combined iron and steel enterprise established after the founding of the People’s Republic of China. It started construction in 1955 and was put into operation on September 13, 1958. During its nearly 60 years of development, wuhan Iron and Steel (Group) Corporation has made important contributions to the development of China’s iron and steel industry and national economy.In 2016, Baosteel and WisCO jointly restructured and established China Baowu Iron & Steel Group Co., LTD. (hereinafter referred to as “China Baowu”). Wuhan Iron & Steel (Group) Company became a wholly-owned subsidiary of China Baowu.In November 2017, Wuhan Iron and Steel (Group) Company completed its corporate restructuring and was renamed Wuhan Iron and Steel Group Co., LTD. (wisCO for short).China Baowu has set up its Wuhan headquarters to work together with Wisco Group. As an extension of the functions and responsibilities of China Baowu Headquarters, it performs regional development, supervision, communication, service and special work in Hubei province on behalf of China Baowu Headquarters.