Hesteel Tech perpetual bonds to list on SZSE

Hesteel Co., Ltd. announced the listing of its 2025 public issuance of technology innovation perpetual corporate bonds (tranche 1) for professional investors on the Shenzhen Stock Exchange, effective September 23, 2025. This issuance meets the exchange's listing requirements, making the bonds available for trading among professional institutional investors.

The bonds, rated AAA by China Chengxin International Credit Rating Co., Ltd., have an issue size of 10 bn yuan. They feature a fixed annual interest rate of 2.36% and will pay interest annually. The basic term for the bonds is three years, with Hesteel retaining the option to extend the term by one period at the end of each basic and renewed period.

The bonds were issued between September 16-17, 2025, with an inception date of September 17, 2025. Their maturity date is September 17, 2028, or the first business day thereafter if it falls on a statutory holiday. The bond face value and opening reference price are both 100 yuan.