China Merchants Expressway innovation bonds list on SZSE

China Merchants Expressway Network & Technology Holdings Co., Ltd.'s 2025 publicly offered technology innovation perpetual corporate bonds (tranche 2) are set to be listed on the Shenzhen Stock Exchange. The bonds will commence trading on December 3, 2025, and will be available to institutional investors through various transaction methods including matched trading, click trading, inquiry trading, competitive bidding, and negotiated trading.

The bonds, identified by the short name "25 招路 KY02" and code "524557.SZ," have an issue size of CNY 17.50 bn. They carry a fixed annual interest rate of 1.90% and will pay interest annually. Both the issuer and the bond itself hold AAA credit ratings from China Chengxin International Credit Rating Co., Ltd. The issuance took place from November 26 to November 27, 2025, with the accrual date set for November 27, 2025.

The bonds feature a basic term of 2 years, with the issuer retaining the option to extend the term by one period at the end of the basic term and each subsequent renewal period. The face value and opening reference price for the bonds are CNY 100 per unit. Should the issuer choose not to exercise the renewal option, the bonds will mature with a full repayment at that point.