CTF SERVICES(00659.HK): Applies for Registration of RMB5 Billion Panda Bonds for Refinancing and Exchange Rate Risk Hedging

NewTimeSpace · 2026/01/14 13:09 · By Xuran Lin

CTF SERVICES announced on January 14 that it has applied to the National Association of Financial Market Institutional Investors (NAFMII) for the registration of the 2026 Panda Bond Program with a total amount not exceeding RMB5 billion. The program will be valid for two years upon approval and can be issued in multiple tranches. The application aims to achieve low-cost refinancing through favorable interest rate spreads, repay debts maturing between 2026 and 2027, and hedge against RMB exchange rate fluctuation risks.

NewTimeSpace News: CTF SERVICES(00659.HK) announced in a notice on January 14, 2026, its application for the registration of Panda Bonds with an amount not exceeding RMB5 billion. CTF Services stated that the core purpose of the proposed 2026 Panda Bond Program is to refinance the outstanding principal of the aforementioned maturing notes and naturally hedge against RMB exchange rate fluctuation risks.

According to the notice, the specific issuance time, scale, tenor and terms of the 2026 Panda Bonds will depend on market conditions. The coupon rate will be determined through the centralized bookbuilding method, and the bonds will be traded in China's interbank bond market after issuance.

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