CITIC Bank issues 6 bn yuan "Sannong" special bonds for agricultural lending

China CITIC Bank Corporation Limited has completed the issuance of its 2025 "Sannong" special financial bonds (Bond Connect). The issuance, approved by the People's Bank of China, totaled 6 billion yuan and was completed on November 27, 2025, after book-building on November 25, 2025, in the national interbank bond market.

The bonds are a 3-year floating rate variety, with the first interest rate adjustment period's coupon rate set at 1.87% and a fixed spread of -1.13%. The proceeds from this bond issuance are designated to fund agricultural-related loans, in accordance with applicable laws and regulatory approvals.

This issuance falls under the bank's approved quota for 2025, allowing for new financial bond outstanding balances not exceeding 60 billion yuan, with the year-end financial bond outstanding balance not exceeding 4,000 billion yuan.