GEELY AUTO (00175.HK): Issues RMB 1.5 Billion Medium-Term Notes Maturing in 2028 at 1.52% First-Year Coupon

NewTimeSpace News: On 13 August 2026, Geely Automobile Holdings Limited (stock code: 00175.HK) issued a voluntary announcement, stating that the Company has issued its second tranche of debt financing instruments for 2026 in the form of medium-term notes on 12 August 2026, with a principal amount of RMB 1.5 billion, a tenor of 2 years and a scheduled maturity date of 13 August 2028. The Company had previously been granted registration approval by the National Association of Financial Market Institutional Investors (NAFMII) for the proposed issuance of debt financing instruments with an aggregate principal amount of up to RMB 10 billion.

According to the announcement, the notes, named "Geely Automobile Holdings Limited 2026 Second Tranche Medium-Term Notes," were issued at par (RMB 100), with a fixed annual coupon of 1.52% for the first year determined through centralized bookbuilding. The Company has the right to adjust the coupon at the end of the first interest-bearing year, with the adjusted rate remaining fixed for the second interest-bearing year. The notes are offered to institutional investors in China's interbank bond market, with Bank of China appointed as lead underwriter and bookrunner, and ICBC, China Construction Bank, China CITIC Bank, Industrial Bank, China Zheshang Bank and Bank of Beijing as co-lead underwriters.

Interest is payable annually on a simple interest basis without compounding, with all principal repayable at maturity. Within five business days after the Company announces the adjusted coupon rate, investors have the right to sell back all or part of the notes at par value; if investors exercise the sell-back option, interest and principal repayment will fall on 13 August 2027. The notes are unsecured, and the entire proceeds will be used to repay the Company's existing indebtedness. The notes constitute direct, unconditional, unsubordinated and unsecured obligations of the Company; in the event of default, the Company shall pay default interest at a daily rate of 0.21 per mille on the outstanding principal and accrued interest.

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