Guangzhou Development issues CNY8bn in ultra-short-term bonds

Guangzhou Development Group Inc. (SSE:600098) has announced the successful issuance of its third ultra-short-term financing bonds for 2025, totaling CN¥8 billion, on May 14, 2025. These bonds, identified as "25 Guangzhou Development SCP003" (bond code: 012581145), have a term of 270 days and will mature on February 9, 2026, with an issuance rate of 1.71%. The issuance price was set at 100 CNY per 100 CNY of face value. This issuance falls under the company's plan, approved at the December 28, 2022 shareholders' meeting, to issue up to CN¥5 billion in ultra-short-term financing bonds within 24 months of obtaining registration from the National Association of Financial Market Institutional Investors (NACMI). China CITIC Bank Co., Ltd. served as the book-runner and lead underwriter, while Ping An Bank Co., Ltd. acted as the joint lead underwriter for the issuance. The company also announced the interest payment details for its 2024 second term of medium-term notes (MTN). The "24 Guangzhou Development MTN002" notes (bond code: 102482079.IB), will pay interest on May 29, 2025, at a rate of 2.75%, amounting to CN¥13,750,000.00. Additionally, the company issued two tranches of medium-term notes, each with a value of CN¥5 billion; "25 广州发展 MTNO02A" with a three-year term and an interest rate of 1.98% due on May 8, 2028 and "25 广州发展 MTNO02B" with a 15-year term and an interest rate of 2.38% due on May 8, 2040.