Shenzhen Energy to issue up to CNY 1b in innovation bonds

Shenzhen Energy Group (SZSE:000027) will publicly issue technology innovation renewable corporate bonds, first phase, to professional investors in 2025, with a total value not exceeding CNY 1 billion. The bonds have a base term of 3 years, and the issuer has the option to extend the term by one cycle at the end of the base period and each subsequent cycle. Interest will be paid annually at a fixed rate. The funds raised will be used to repay company bonds, supporting the company’s financial strategy and technological innovation initiatives. CICC, CITIC Securities, Guosen Securities, and Guotai Haitong Securities are serving as lead underwriters.