The issuance of China Railway (00390)'s public offering of technological innovation renewable corporate bonds to professional investors in 2025 (the first issue) has been completed

According to the Zhitong Finance App, China Railway (00390) announced that the company's public offering of corporate bonds with a total face value of not more than 60 billion yuan to professional investors obtained registration approval from the China Securities Regulatory Commission on June 19, 2023 (Securities Regulatory License [2023] No. 1327).

According to the “Notice on the Public Issuance of Science and Technology Innovation Renewable Corporate Bonds to Professional Investors by China Railway Co., Ltd. in 2025”, China Railway Co., Ltd. publicly issues science and technology innovation renewable corporate bonds (the first installment) (hereinafter referred to as “current bonds”) to professional investors in 2025 are divided into two types. The basic term of each type is 5 years, with 1 cycle every 5 interest accrual years. At the end of each cycle, the issuer has the right to choose to extend the term of this type of bond by 1 period (that is, extend it by 5 years), or choose to pay the full amount of this type of bond due at the end of the cycle Bonds; Type 2 The basic term is 10 years, with 1 cycle for every 10 interest-bearing years. At the end of each cycle, the issuer has the right to choose to extend the term of this type of bond by 1 cycle (that is, extend for 10 years), or choose to pay the full amount of this type of bond due at the end of the cycle. The total amount of bonds issued in this issue does not exceed RMB 3 billion (including RMB 3 billion).

The issuance of this issue ended on March 11, 2025. In the end, only Type 1, Type 1 (bond abbreviation: 25 Iron YK01, code: 242525.SH), was issued on an actual scale of 3 billion yuan. The final coupon interest rate was 2.40%, and the subscription ratio was 1.6767.