Recently, Black Peony (Group) Co., Ltd. announced that its application for issuance of corporate bonds has been approved by the China Securities Regulatory Commission (CSRC).

According to the approval, the nominal value of Black Peony’s corporate bonds shall be no more than 1.7 billion yuan and will be issued in phases. The nominal value of its first-phase issuance must be no less than 50% of the total nominal value and shall be issued within six months from the date of approval. The rest phases must be issued within 24 months from the date of approval. Each approval is valid within 24 months from the date that such issuance is approved by the CSRC.

A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money effectively in order to expand its business. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date.