CITIC Securities’ indirect unit issues $1.4bn and HK$1.8bn in notes

CITIC Securities announced that its indirect wholly-owned subsidiary, CSI MTN Limited, has issued two tranches of medium-term notes totaling $1.4 billion and HK$1.8 billion under an existing program. This issuance, occurring on December 15 and 16, 2025, is fully guaranteed by CITIC Securities International Company Limited, another wholly-owned subsidiary. Following these issuances, CSI MTN Limited's total outstanding principal under the program amounts to $28.64 billion.

CSI MTN Limited, established in December 2021 in the British Virgin Islands, serves as a special purpose vehicle (SPV) for offshore debt financing within the CITIC Securities group. The company is 100% indirectly held by CITIC Securities International and is used to supplement the group's operational capital.

The guarantees are considered necessary and reasonable, as CITIC Securities maintains full oversight of the issuer's solvency, mitigating risk. The total external guarantees provided by CITIC Securities and its controlled subsidiaries, all to other controlled subsidiaries, stand at RMB 2,100.35 billion, representing 71.66% of the company's latest audited net assets. There are no overdue guarantees.