Jiangsu Expressway issues tenth tranche of super short-term commercial paper

Jiangsu Ninghu Expressway Co., Ltd. (Jiangsu Expressway) announced the successful issuance of its tenth tranche of super short-term commercial paper for 2025. The company received an "Acceptance of Registration Notice" from the National Association of Financial Market Institutional Investors in December 2024, allowing it to issue up to 4 bn yuan in super short-term commercial paper in tranches over two years, starting from December 30, 2024.

This particular issuance, labeled "25 Ninghu Gao SCP010", took place on October 14, 2025, with an actual issuance amount of 200m yuan, matching the planned issuance total. The paper has a 240-day term, an interest rate of 1.59%, and an issue price of 100 yuan per 100 yuan face value. The start date is October 15, 2025, with maturity on June 12, 2026.

The issuance attracted 9 qualified bidders, with a total qualified bidding amount of 450m yuan. The highest bid interest rate was 1.75%, while the lowest was 1.58%. CITIC Bank Co., Ltd. served as both the bookrunner and lead underwriter for this offering.