Modern Animal Husbandry (01117) successfully issued US$350 million 5-year sustainable development bonds

The Zhitong Finance App learned that on July 2, 2025, China Modern Animal Husbandry Holdings Co., Ltd. (01117, hereinafter referred to as “Modern Animal Husbandry” or “Company”) successfully completed the issuance of US$350 million 5-year advanced unsecured sustainable development bonds. This marks the successful return of modern animal husbandry to the overseas bond capital market after a lapse of 4 years. It is also the first sustainable development bond issued by the company.

The offering was highly recognized by diversified investors around the world. More than 120 institutional investors participated in the order placement. The peak order subscription surpassed US$2.3 billion, and the oversubscription ratio was nearly 6.6 times. The company accurately grasped the favorable time window for a relatively stable market and a steady appreciation of the RMB exchange rate against the US dollar, and took the opportunity to adopt a one-day bookkeeping pricing strategy to avoid the risk of market fluctuations to the greatest extent possible, and finally successfully completed pricing. This bond achieved zero issuance premium, fully demonstrating investors' high recognition of the company's sound credit qualifications.

This offering is the first sustainable dollar bond issued by a food and beverage company in the Asia-Pacific region. It is also the first in the global dairy industry, setting a model for the industry. The deal roadshow fully covered the core European and Asian investor groups, and attracted a number of environmental, social and governance (ESG) funds in particular. Ultimately, the order book achieved diversified subscriptions, with asset management, fund and insurance investors accounting for 42%, and investors from Europe, the Middle East and Africa accounting for 8%. The successful issuance of this bond is another milestone for Hyundai Animal Husbandry in overseas capital markets. It not only reflects the international capital market's recognition of its main credit and development strategies, but also further broadens the company's sustainable financing channels and lays a solid foundation for future high-quality development.