China Merchants Expressway to redeem 2023 medium-term notes

China Merchants Expressway Network & Technology Holdings Co., Ltd. has announced the redemption of its 2023 first tranche medium-term notes. The total issued amount of these notes was CNY 5 billion, with the current outstanding balance also CNY 5 billion. The bonds commenced on November 2, 2023, with a 2+N year term and an AAA credit rating.

The current interest rate for this period is 3.18%. The company is scheduled to pay CNY 51,590,000 in principal and interest on the redemption date, November 2, 2025. China Merchants Bank Co., Ltd. serves as the lead underwriter and ongoing management institution for these notes, while China Central Depository & Clearing Co., Ltd. is the registration and clearing agency.

The redemption funds will be transferred by the issuer to China Central Depository & Clearing Co., Ltd.'s designated account before the deadline, which will then disburse the funds to bondholders' accounts on the redemption date. Any delays due to changes in bondholders' fund transfer paths not communicated in time will not be the responsibility of the issuer or China Central Depository & Clearing Co., Ltd.