The reasons for the proposal are as follows:
1. government project: the government allocated 8 1 mu of land for the construction of affordable housing, with a total investment of 352 million, including 654.38+52 million from the government and 200 million from Xinhua Trust;
(The government allocated 654.38+52 million yuan, which is equivalent to making a 200 million safety cushion for the trust fund.)
2. The source of repayment is fully guaranteed: the sales revenue is conservatively estimated to be 398 million yuan, covering the principal twice. At present, 80% of the project construction progress is completed, and all sales can be completed before 16;
3. Perfect risk control measures: the land evaluation value of the mortgaged project is 5 1 10,000, and the mortgage rate is only 38.73%;
I. Basic elements
(1) annualized rate of return: 1 10,000 ≤ amount ≤ 39.5%/year.
3 million ≤ 10.5%/ year
(2) Trust period: 24 months.
(3) Benefit distribution: paying interest every year.
(4) Trust scale: 200 million.
(5) Use of funds: for the construction of affordable housing in wenshan city.
(6) Product type: political letter category
Personal point of view
This is a well-regulated political trust project, but the qualification of the financier is the highlight.
1. Wenshan City Investment: Wenshan Construction Bureau 100% holding state-owned enterprises with net assets of 3.88 billion and asset-liability ratio of 10.37%. Corporate bonds were issued on March 14 (14 Wencheng Investment Code 12458).
2. Wenshan Chengtou is the largest local state-owned enterprise. It has a monopoly advantage in urban construction, and has received strong support from the government in many aspects such as capital injected into the land and return on assets.
Wenshan is currently in a period of vigorous development of infrastructure construction and urbanization. Entrusted by Wenshan Prefecture Government, Wenshan Prefecture Urban Investment Co., Ltd. has sorted out the land around the municipal roads, which can bring continuous operating income to the company.
4. The Wenshan government gave the following reply, and injected operating assets with a value of not less than 2.5 billion yuan into the company from 20 14 to 20 16.