Jiangsu Expressway issues ninth super short-term commercial paper tranche

Jiangsu Ninghu Expressway Co., Ltd. announced the successful issuance of its 2025 Ninth Tranche Super Short-Term Commercial Paper, with a planned and actual issuance amount of 2.50 billion yuan. The paper, with a term of 246 days, was issued at an interest rate of 1.63% and a price of 100 yuan per 100 yuan face value. The commencement date for interest calculation is October 9, 2025, with redemption scheduled for June 12, 2026.

The issuance attracted 13 compliant bidders, with a total compliant bidding amount of 6.75 billion yuan. The highest and lowest accepted bidding rates were 1.80% and 1.63% respectively. Five compliant bidders were awarded, totaling 2.65 billion yuan.

China Everbright Bank Co., Ltd. served as the bookrunner and lead underwriter for this issuance. This follows the company's registration acceptance from the National Association of Financial Market Institutional Investors in December 2024, allowing for phased issuance of up to 40 billion yuan in super short-term commercial paper over two years.