CITIC Securities subsidiary issues $5.08bn in notes, guaranteed by wholly-owned entity

CSI MTN Limited, an indirect wholly-owned subsidiary of CITIC Securities through CITIC Securities International, has issued a tranche of medium-term notes totaling $5,086.70 million under its established Medium-Term Note Program. The issuance, dated November 26, 2025, brings the total outstanding principal under the program to $27.36 billion. The program, initially established on March 29, 2022, is fully guaranteed by CITIC Securities International, also a wholly-owned subsidiary of CITIC Securities.

The guarantee, provided by CITIC Securities International, is unconditional and irrevocable. As of the announcement date, CITIC Securities and its controlled subsidiaries' total external guarantees amount to RMB 196.163 billion, representing 66.93% of the company's most recently audited net assets. All current guarantees are provided by the company and its controlled subsidiaries for their respective controlled subsidiaries, with no overdue guarantees reported.

The decision for this issuance and guarantee was approved by the CITIC Securities International board and shareholders, aligning with the company's financing strategy. The funds generated are intended to supplement the working capital of the guarantor's group, with CSI MTN Limited serving as a dedicated vehicle for offshore debt financing.