Galaxy Entertainment Group (GEG) has announced the subscription of HK$100 million of SME-themed COVID-19 Impact Alleviation Social Bonds issued by Bank of China (BOC) Macau.
The Social Bonds were recently issued by BOC Macau in response to the government’s call to support affected SMEs in overcoming their financial challenges during the COVID-19 epidemic. The proceeds raised will be used to provide special loans and reduce the financing costs of Macau SMEs by providing health care and medical supplies.
They represent the first ever certified Social Bonds issued by a Chinese issuer.
Galaxy said it has adopted a “Large Businesses Leading Small Businesses” model to support and nurture the development of Macau’s SMEs.
“Different organizations in Macau have been standing strong together in the fight against COVID-19,” said GEG Vice-Chairman Francis Lui. “We appreciate the prompt efforts made by BOC Macau to support local SMEs and foster the recovery of the local economy, including the issuance of the Social Bonds.
“Through BOC Macau’s financial market insight, professional services and rich experiences in working with SMEs, GEG believes our HK$100 million subscription of the Social Bonds will help offer prompt and efficient assistance to local SMEs and alleviate their operating and financing pressures amid this critical period.”
