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Shandong Hi-speed and Provincial ICBC Signed a Comprehensive Strategic Cooperation Agreement

2018-03-17

Recently, Shandong Hi-speed Group and Shandong Branch of ICBC signed a comprehensive strategic cooperation agreement and debt-to-equity cooperation framework agreement in Jinan. The total amount of the comprehensive strategic cooperation agreement was 80 billion yuan, of which 20 billion yuan was used to implement the debt-to-debt agreement.

President of ICBC Fu Jie, President of ICBC Financial Assets Investment Co., Ltd Zhang Zhenghua, Vice President Zhu Yanfeng and Wu Yingchun; Chairman of Shandong Hi-speed Group Sun Liang, Vice General Manager Wang Sijun and Meng Yan attended the signing ceremony.

Shandong Hi-speed Group has always had excellent corporate reputation and profitability for many years. Especially on the basis of having the highest domestic AAA credit rating, the Group received the A-level international credit rating given by both Fitch Rating and Moody's, that laid the foundation for cooperation with financial institutions at home and abroad. Shandong Hi-speed Group signed a debt-to-equity agreement with the ICBC and CCB last year, and signed a debt-to-equity framework agreement with ICBC this time, which is of great significance to strengthen the cooperation between banks and enterprises, reduce the debt ratio of the Group, speed up the construction of the key expressway projects of our province, and provide traffic guarantee for the conversion of new and old driving force in the whole province.

 

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