Zhejiang Communications Technology subsidiary gets approval for medium-term notes

Zhejiang Communications Technology Co., Ltd. announced its subsidiary, Zhejiang Jiaogong Group Co., Ltd., has secured approval from the National Association of Financial Market Institutional Investors for the registration of its 2025 ordinary medium-term notes. The registration, with a maximum amount of 1 billion yuan, is valid for two years from the notification date. This move aims to address the company's capital needs, optimize debt structure, and lower comprehensive financing costs.

The issuance will be jointly underwritten by several major financial institutions, including Zheshang Bank, Industrial and Commercial Bank of China, China Merchants Bank, CITIC Bank, and China Construction Bank. Zhejiang Jiaogong is authorized to issue the medium-term notes in tranches within the registration's validity period, subject to prior filing with the National Association of Financial Market Institutional Investors for each issuance.

Zhejiang Communications Technology will strategically manage the issuance timing based on its capital plans and market conditions within the approved quota and validity period. The company commits to adhering to relevant rules and guidelines for debt financing tool registration, issuance, and information disclosure, ensuring timely and transparent reporting of issuance results through recognized channels.