Hesteel completes first phase of renewable bond issuance

Hesteel Co., Ltd. has successfully completed the first phase of its 2025 public offering of renewable corporate bonds to professional investors, securing approval from the China Securities Regulatory Commission. While the initial plan aimed for a maximum issuance of RMB 1.5 billion, the final issuance amounted to RMB 1 billion, achieved through an over-the-counter placement to professional institutional investors at a price of RMB 100 per bond. The bonds carry a coupon rate of 2.70%, with an oversubscription rate of 1.68. Directors, supervisors, senior managers and related parties of the company did not subscribe to the bonds. Proceeds are earmarked for use in short-term working capital to subsidiaries.