Shandong Hi-speed issues 1 bn yuan in medium-term notes

Shandong Hi-speed Company Limited announced the successful issuance of its 2025 third tranche of 1 billion yuan medium-term notes. The issuance, with a total planned and actual amount of 1 billion yuan, commenced on September 24, 2025, with an interest rate of 2.06%. The notes carry a 2+N year term, with the redemption date set for December 31, 2099.

The company received approval for unified registration of non-financial enterprise debt financing instruments from the National Association of Financial Market Institutional Investors on May 9, 2024. This allows for the issuance of various debt instruments within the registration's validity period. The proceeds from this issuance have been deposited into the company's designated account.

The subscription process saw 20 compliant applicants, generating a total compliant subscription amount of 3.78 billion yuan. The highest and lowest bid prices were 2.30% and 1.70%, respectively. Effective subscriptions totaled 11 applicants, with an effective subscription amount of 1.4 billion yuan. China Merchants Bank Co., Ltd. served as the bookrunner and lead underwriter, and Beijing Bank Co., Ltd. acted as the joint lead underwriter for this issuance.