China Railway Construction Corporation (01186) will publicly issue technology innovation renewable corporate bonds (first tranche) targeting professional investors in 2025 with an issuance size of no more than 30 billion yuan.

China Railway Construction Corporation (01186) announced that the company has obtained the effective registration of the China Securities Regulatory Commission ("CSRC") with the "CSRC Approval [2023] No.2598" on November 17, 2023, for the public issuance of corporate bonds in an amount not exceeding RMB 30 billion (including RMB 30 billion). The bonds will be issued in stages, with China Railway Construction Corporation Limited issuing the Technology Innovation Renewable Corporate Bonds (First Tranche) for professional investors in 2025 (referred to as the "current tranche"), with a size not exceeding RMB 30 billion (including RMB 30 billion), a face value of 100 yuan per bond, and an issue price of 100 yuan per bond. The current tranche of bonds is divided into three categories. Category one has a cycle of three interest-bearing years. At the end of each cycle, the issuer has the option to extend the maturity of the bonds for another cycle (i.e., 3 years) or choose to redeem the bonds in full at the end of that cycle. Category two has a cycle of five interest-bearing years with similar options for extension or redemption. Category three has a cycle of ten interest-bearing years with similar options for extension or redemption. The bond codes for Category one, two, and three are 242846, 242847, and 242848, with the bond abbreviations being Iron Construction YK25, YK26, and YK27, respectively.