Chapter 395

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Protagonist:

Chen Yi

Seeing that Chen Yi had even prepared the money, He Fuhan knew that no matter what choice he made, the other party was determined to stick his foot in.

Jiangning is the Chen Family's Jiangning; no matter how unyielding He Fuhan was in his bones, he was very clear about the limits of his own power — given the Chen Family's current strength, they could absolutely make it so that He Fuhan's orders didn't leave the Municipal Government building.

Of course, the side effects of doing so were extremely obvious; unless it touched on vested interests, the Chen Family would not employ such a "act first, report later" Imperial Sword.

Chen Yi's black briefcase, however, told He Fuhan in no uncertain terms that this was precisely the moment vested interests were at stake.

Thinking to this point, He Fuhan said with considerable grievance: "Since you've even brought the money, then fine, add Chen Group to the bidding for the Jiangnan Shipyard debt restructuring. Xiao Li, you take Chen Yi to the Finance Bureau to hand over the money."

Once the words were out, his mood also calmed down; treating Chen Yi as if he were an ordinary person, he said: "You hand the money to the comrades at the Finance Bureau, Xiao Li will help you handle the bidding formalities."

Matters having come to this, he prepared to actually hold a bidding event. Mitsubishi Company's requested favor could not be fulfilled; returning the porcelain vase he had accepted earlier would be fine — He Fuhan thought to himself, but actually had no intention of returning it. Such a large company always has business to do in Jiangning; treating it as a prepayment wasn't bad at all.

Chen Yi corrected him: "It's Jinsheng Securities, not Chen Group; this money is my personal investment."

He Fuhan fell silent, his heart churning: Jinsheng Securities actually has the money to buy a shipyard.

He had just reviewed the Jiangnan Shipyard documents; valuation 12.65 billion, first round of financing 4 billion in convertible bonds to pay off maturing short-term loans, purchase materials, and pay worker wages; in 2 years when the debt matures, it can be converted into 30% equity.

In his view, Chen Yi must have moved because he valued that 30% equity, just like Mitsubishi Group. This figure truly made it somewhat hard for him to understand.

4 billion yuan!

"I understand." As He Fuhan uttered these words, it was as if he also exhaled a breath of turbid air.

Chen Yi smiled faintly and left.

Secretary Li hurried to catch up, walked two steps ahead, and showed him the way.

Arriving at the Finance Bureau, there was another round of considerable hassle.

The 10-million-US-dollar bearer US Treasury bonds were the most value-preserving cash after the Golden Age, and they still paid a not-insignificant amount of interest every year. In fact, there is no essential difference between RMB and bearer bonds; they are both bearer, both circulate on the market, and if held long-term, the latter has stronger value preservation than the former.

However, China's bearer bonds — that is, Treasury bills — have not been issued for many years, while US dollar bonds... the Finance Bureau officials large and small looked at each other, none daring to confirm authenticity.

"Get the bank people here." Chen Yi kindly suggested.

The Finance Bureau Chief suddenly understood; the money had to be deposited in the bank anyway, so if the bank people accepted it, it would be booked; if the bank people didn't accept it, the ones offending people would be them.

Secretary Li guarded the black briefcase without leaving its side for a step; the smile on his face had almost frozen stiff.

Ever since becoming the Mayor's secretary, besides cigarettes and alcohol he accepted no gifts, single-mindedly waiting for promotion and advancement, and thus lived a relatively arduous life. 50 million US dollars compared to his salary was simply like an elephant and an ant. No matter how hard the latter worked to save up flesh, it could never get as fat as the former.

Half a day was used; finally, under circumstances where no one bore any responsibility, the booking formalities were completed — the secret behind government agencies' dilatory, cumbersome, bureaucratic procedures is that no one bears responsibility; the reason superiors' instructions are swift and effective is precisely because responsibility is transferred.

Chen Yi had just left the Municipal Government when Yan Qi Masayoshi received the news.

"Bidding! He still has the face to say bidding." Hearing this word, Yan Qi Masayoshi immediately smashed the bone china teacup in his hand.

The one responsible for the specific restructuring plan was the Japanese Hirose Kurea; he indifferently admired the pattern on another bone china teacup and smiled: "What does bidding matter? We'll just compete with him; can a Chinese company compare financial strength with Mitsubishi Group?"

Hirose Kurea was a top student at the University of Tokyo; upon graduation he joined Mitsubishi Trading Company and rose to become an important figure in the association. He was equivalent to a special envoy dispatched by Mitsubishi Headquarters, specifically responsible for this capital injection activity to ensure smooth progress.

Yan Qi Masayoshi looked at Hirose Kurea and said heavily: "Chen Yi is the Direct Grandson of the Jiangning Chen Family; official power is very strong. I'm worried Chinese companies won't follow rules in bidding."

"Our Japanese company isn't some rigid old fossil either; in this world, where is there any bureaucrat who doesn't take money?" Hirose Kurea smiled, revealing neat snow-white teeth, and said grimly: "As long as Lord He can make the bidding fair, we can win. Mitsubishi already stands on undefeated ground."

Yan Qi Masayoshi said "Not bad," then added: "I'll have Qiao Shan make the factory even worse, so their willingness to take it over won't be strong... I don't like this Chen Yi; he gives me a very greedy feeling."

Although Chen Yi kept Jiangbei Wharf in mind and did much preliminary preparation, most of it, especially the important parts, were not known to Mitsubishi.

Hirose Kurea gazed deeply at the bone china cup and did not answer Yan Qi Masayoshi's words.

Although both their common goal was to obtain Jiangnan Shipyard, on the aspect of cost outlay they had different understandings.

For this day, Yan Qi Masayoshi had prepared nearly 2 years, so he had to earn a large sum, preferably an astonishing profit, to be worthy of two years' outlay. Hirose Kurea had only just arrived in China; his goal was merely a standard profit, preferably no mishaps, quietly completing the mission.

Realizing Hirose Kurea's mind was wandering, Yan Qi Masayoshi did not forget to remind him again: "We must compete for 30% equity of the shipyard; if possible, please Hirose-kun save some."

"I will certainly do my best, but if it exceeds budget, please be understanding." Hirose Kurea did not speak in absolutes; this was also his first time conducting commercial activity of such scale in China; exactly how much money it would cost, he truly had no bottom line.

"As long as we can secure enough equity, 4 billion RMB is also acceptable. If Chen Yi hadn't joined, we could have negotiated secretly; maybe only 3 billion would have been needed." Yan Qi Masayoshi was somewhat regretful, but not very concerned about the capital expenditure of the debt rights. Because this money was not entirely put up by Mitsubishi Group; in fact, most of it was obtained by Mingde Group using the residential area as collateral.

Hirose Kurea put away his previous arrogance and said seriously: "I will certainly obtain 30% equity. Rest assured."

Next, the two men conducted in-depth discussion on the overall equity acquisition plan, at one point detailing which officials to bribe, which newspapers and to what extent to control public opinion.

At the same time, Chen Yi was also in the Jiangning Hotel conference hall, sitting in on a group of State-owned Assets Supervision and Administration Commission officials discussing the debt restructuring plan.

Ostensibly sitting in, but whenever the officials spoke two paragraphs, they would ask Chen Yi: "Mr. Chen, what do you think of this?"

If Chen Yi nodded, they would continue; if Chen Yi shook his head, they would overturn the previous argument and start over.

These officials were all quite adept at reading expressions; at most two inquiries per paragraph and they could guess Chen Yi's meaning; discussing the plan was actually faster than discussing it themselves.

Thinking about it, it was natural; if they discussed it themselves, the mutual interest entanglements would take three days and three nights to untangle; where would there be the current convenience — Chen Yi makes the final call and it's done.

In the entire conference hall, besides the 5 directors and deputy directors of the State-owned Assets Commission, only Fang Zhennan's secretary was taking records; there was actually not a single person from Jiangnan Shipyard. After all, to them, Jiangnan Shipyard was just a subordinate enterprise; although they could submit a rectification and restructuring plan themselves, since the State-owned Assets Commission was preparing to make one itself under superiors' requirements, there was no need to notify Jiangnan Shipyard.

At least during the meeting, there was no need to notify them.

The meeting lasted until dinner time; Chen Yi had the hotel waiters bring rich food and placed it on the conference table, clearly posturing to continue discussion.

The officials were unwilling to drag this matter to tomorrow, so they ate the team banquet at the fastest speed of their lives. Director Zhu Wei didn't even wipe his mouth, pushed away his plate and said: "We continue discussing the convertible bond splitting issue. Total 4 billion debt, so split into 40 portions?"

Chen Yi shook his head.

"Then what do you think, is a few more portions better, or a few fewer?"

The people below understood tacitly; one deputy director said more portions was better, Chen Yi remained wooden and unmoving; another person said fewer portions was better, Chen Yi smiled slightly.

So the director immediately finalized: "Then we'll split the debt into 20 portions, 200 million RMB each, must be cash; each debt portion contains 1.5% equity, after 2 years can choose whether to redeem equity or cash. If redeeming cash, interest is 10% per year."

20 portions of debt and overall debt are two different matters. Especially in Jiangning's current environment, no matter who presides over such a bidding conference, facing 20 portions of debt, they cannot make a decision to give all to one family.

Speaking of now, the companies willing to participate in bidding are approximately only Jinsheng Securities and Mitsubishi Group. Other participating companies are mostly just joining the fun, making up numbers.

Once the debt splitting decision was completed, Chen Yi closed his eyes and rested his mind.

Director Zhu Wei understood perfectly and immediately accelerated the pace of the discussion.

However, no matter how loud his voice was, no matter who was speaking, the Director's gaze remained fixed on Chen Yi.

As long as "Mr. Chen" revealed the slightest expression, he would halt the meeting discussion and conduct a careful re-argumentation of the question just raised.

As a direct descendant of the Chen Clan's Collateral Branch, Director Zhu Wei was absolutely an official skilled at being an official.

……(Unfinished. If you like this work, welcome to Qidian (qidian. com) to cast Recommendation Tickets and Monthly Tickets; your support is my greatest motivation.)