CHINA OVERSEAS (00688) Subsidiary Plans to Issue Up to RMB 2.5 Billion Corporate Bonds

Stock News01-09

CHINA OVERSEAS (00688) announced that its wholly-owned subsidiary, China Overseas Enterprise Development Group Co., Ltd. (the "Issuer"), has obtained approval from the China Securities Regulatory Commission via document "ZJXR [2025] No. 180" on January 24, 2025, to publicly issue corporate bonds with a total face value not exceeding RMB 15 billion. The Issuer will conduct the bond issuance in multiple tranches.

The current bond tranche is divided into two series. Series one is abbreviated as "26 Zhonghai 01" with the bond code 524623; series two is abbreviated as "26 Zhonghai 02" with the bond code 524624. The issuance scale for this tranche is up to RMB 2.5 billion (inclusive), with a par value of RMB 100 per bond. The total number of bonds to be issued will not exceed 25 million, priced at RMB 100 per bond.

Series one has a term of 3 years, while series two has a term of 5 years. Both series include an inter-series reallocation option. The indicative coupon rate range for series one is set between 1.60% and 2.60%; the indicative coupon rate range for series two is set between 1.80% and 2.80%.

The Issuer and the lead underwriter will conduct a book-building process with investors on January 12, 2026 (T+1 day) to determine the final coupon rates for the bonds based on the results of the inquiry.

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