China Merchants Expressway sets 2.00% coupon rate for perpetual bonds

China Merchants Expressway Network & Technology Holdings Co., Ltd. announced a coupon rate of 2.00% for its 2025 Public Issuance of Technology Innovation Perpetual Corporate Bonds (Tranche 1) to professional investors. The bond issuance, with a maximum size of RMB 1.55 bn, will be offered to professional investors on October 21, 2025.

The coupon rate was determined following a book-building process among institutional investors, with the inquiry range initially set between 1.70% and 2.50%. After negotiations between the issuer and the lead underwriters, the final rate was set at the lower end of the range, reflecting market conditions and investor interest.

The issuance received registration approval from the China Securities Regulatory Commission (CSRC) under document number [2024] 1948. Further details regarding the subscription process are available on the Shenzhen Stock Exchange and Cninfo websites, as outlined in the "2025 Public Issuance of Technology Innovation Perpetual Corporate Bonds (Tranche 1) Issuance Announcement" published on October 20, 2025.