CICC Lowers Coupon Rate on 23CICC F1 Bond by 145 Basis Points for Final Two Years

Stock News08-04

CICC (03908) has announced an adjustment to the coupon rate on its "23CICC F1" bond. In accordance with the terms outlined in the prospectus for the first tranche of non-public corporate bonds issued to professional investors in 2023, the company has the right to decide on any rate change at the end of the third year of the bond's term.

Based on the company's current financial standing and prevailing market conditions, CICC has opted to reduce the coupon rate by 145 basis points for the bond's remaining two-year period. This means the coupon rate will be set at 1.35% from August 28, 2026, to August 27, 2028. The bond pays simple interest annually with no compounding.

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