China Merchants Shekou bond issuance oversubscribed as investor interest remains strong

China Merchants Shekou Industrial Zone Holdings Co., Ltd. successfully issued the third tranche of its 2025 public corporate bonds for professional investors. The first tranche (bond code: 524555, bond abbreviation: 25 Shekou 04) raised CNY 5.04 billion with a coupon rate of 1.77% and an oversubscription ratio of 1.835 times. The issuance took place from November 25 to November 26, 2025. The second tranche (bond code: 524556, bond abbreviation: 25 Shekou 05) was not issued.

Related parties participated in the bond subscription, including China Merchants Securities Co., Ltd., which acquired CNY 0.20 billion; China Merchants Bank Co., Ltd., which acquired CNY 5.00 billion; and China Merchants Group Finance Co., Ltd., which acquired CNY 2.00 billion. Lead underwriters and their affiliates also participated, with China Merchants Securities acquiring CNY 11.70 billion, CITIC Securities CNY 3.20 billion, China Merchants Changjiang Securities CNY 3.30 billion, and China International Capital Corporation CNY 0.10 billion, all in compliance with fair pricing procedures.

In a separate but related announcement, China Merchants Shekou Industrial Zone Holdings also confirmed the 2025 interest payment for its 2023 public corporate bonds (third tranche) (bond abbreviation: 23 Shekou 05, code: 148525). The interest payment, at a coupon rate of 3.20% or CNY 32.00 per CNY 1,000 face value, will be made on November 28, 2025, to holders registered by November 27, 2025.