Jiangsu Expressway issues eighth tranche of RMB 700m short-term bonds

Jiangsu Ninghu Expressway Co., Ltd. (Jiangsu Expressway) announced the successful issuance of its 2025 eighth batch of super short-term commercial papers on September 10, 2025. This issuance falls under an earlier approval allowing the company to issue up to RMB 4 billion in super short-term commercial papers in tranches over two years, starting from December 30, 2024.

The recent issuance, identified as "25 Ninghu Gao SCP008," had a planned and actual issuance amount of RMB 700 million. The bonds carry an interest rate of 1.57% and an issue price of RMB 100 per RMB 100 face value. The maturity period for these bonds is 218 days, with the start date on September 11, 2025, and the redemption date on April 17, 2026.

The issuance attracted 14 compliant institutional subscribers, with a total compliant subscription amount reaching RMB 2.51 billion. The highest subscription bid rate was 1.80%, while the lowest was 1.56%. China Everbright Bank Co., Ltd. served as the bookrunner and lead underwriter, with Nanjing Bank Co., Ltd. acting as the co-lead underwriter for this transaction.