China International Capital Corporation Limited (03908.HK): To Issue Perpetual Subordinated Bonds Up to RMB 3 Billion, with Coupon Rate Inquiry Range of 1.9%-2.9%
On January 7, China International Capital Corporation Limited (03908.HK) disclosed the relevant arrangements for the first tranche of its 2026 publicly issued perpetual subordinated bonds targeting professional investors.
The issuance size of this tranche of bonds shall not exceed RMB 3 billion, the bond is abbreviated as "26 CICC Y1", and the bond code is 244507.
The coupon rate inquiry range of this tranche of bonds is 1.90%-2.90%. The final coupon rate will be determined via book-building on January 8, 2026 (T Day) and announced on the same day.
This tranche of bonds has a reset period of every 5 interest-bearing years. At the end of each reset period, the Company is entitled to elect to extend the bond term by another 5 years or redeem the bonds in full. The coupon rate for the first 5 interest-bearing years will be determined by the initial benchmark interest rate plus the initial spread. If the Company opts for term extension, the coupon rate will be adjusted to the current benchmark interest rate plus the initial spread plus an additional 200 basis points starting from the 6th interest-bearing year.
After comprehensive assessment by China Chengxin International Credit Rating Co., Ltd., the issuer’s long-term issuer credit rating is AAA, and the credit rating of this tranche of bonds is also AAA. This tranche of bonds is unsecured and only issued to and traded among professional institutional investors.
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