China Merchants Expressway to issue first tranche of innovation bonds

China Merchants Expressway Network & Technology Holdings Co., Ltd. has announced the public issuance of its 2025 technology innovation perpetual corporate bonds (first tranche) to professional investors. The issuance, with a maximum value of 1.55 billion yuan, will have a par value of 100 yuan per bond. The bonds are open exclusively to institutional professional investors registered with China Securities Depository and Clearing Corporation Limited (Shenzhen Branch).

The bonds have a basic term of two years, with the issuer retaining the option to extend the term by one period at the end of each interest-bearing period. The issuer also has the right to defer interest payments. This issuance has been rated AAA by China Chengxin International Credit Rating Co., Ltd., which also assigned an AAA rating to the bonds, reflecting a stable outlook.

The bonds are scheduled for inquiry on October 21, 2025, with the subscription period starting on October 22, 2025. Funds raised from this issuance are intended to repay interest-bearing debts within the company's consolidated scope.