Jiangsu Expressway issues $1.53bn of medium-term notes

Jiangsu Expressway (SSE:600377) announced the successful issuance of its third tranche of medium-term notes for 2025, according to a filing released February 15, 2025. The issuance, with a principal amount of RMB 1.1 billion, comes after receiving approval from the China Interbank Market Dealers Association in October 2024. The notes, officially named "Jiangsu Expressway Co., Ltd. 2025 Third Tranche Medium-Term Notes" (25 Ning Hu Gao MTN003) , carry a coupon rate of 1.79% and have a maturity of three years, with an issue date of February 14, 2025, and maturity date of February 14, 2028. The offering attracted four qualified subscribers, with the total subscription amount matching the issuance size. China Merchants Bank served as the bookrunner and lead underwriter for the transaction.