CHINA OVERSEAS Subsidiary Plans to Issue Up to 2.5 Billion Yuan Corporate Bonds

Deep News01-12

CHINA OVERSEAS (00688) announced that its wholly-owned subsidiary, China Overseas Enterprise Development Group Co., Ltd. (the "Issuer"), obtained approval from the China Securities Regulatory Commission on January 24, 2025, under document "ZJXK [2025] No. 180," to publicly issue corporate bonds with a total face value not exceeding 15 billion yuan. The Issuer will conduct this bond issuance in multiple tranches. The current tranche is divided into two series: Series 1, abbreviated as "26 Zhonghai 01" with bond code 524623; and Series 2, abbreviated as "26 Zhonghai 02" with bond code 524624. The issuance size for this tranche is up to 2.5 billion yuan (inclusive), with each bond having a face value of 100 yuan. The total number of bonds to be issued will not exceed 25 million, priced at 100 yuan per bond. Series 1 has a term of 3 years, while Series 2 has a term of 5 years; both series include an inter-series reallocation option.

The coupon rate inquiry range for Series 1 of this bond tranche is 1.60% to 2.60%; the coupon rate inquiry range for Series 2 is 1.80% to 2.80%. The Issuer and the lead underwriter will conduct a coupon rate inquiry with investors on January 12, 2026 (T+1 day) and will determine the final coupon rates for this bond tranche based on the results of the inquiry.

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