China Railway Construction Corporation (01186) plans to issue 3.5 billion yuan in bills through its subsidiary Tiejian Huayuan.

China Railway Construction Corporation (01186) announced that on September 13, 2024, the company, the issuer Tie Jian Huayuan (an indirect wholly-owned subsidiary of the company), entered into a subscription agreement with Huatai International, Industrial and Commercial Bank of China, DBS Bank Limited, Agricultural Bank of China Limited, Bank of China (Hong Kong), BANKCOMM, China Construction Bank Corporation (Asia), CITIC BANK (International), and CMB International to issue and subscribe for RMB 3.5 billion worth of notes (2.60% guaranteed notes due in 2027). The net proceeds from the issuance of the notes are approximately RMB 3.497 billion. The issuer intends to use the net proceeds to repay maturing debts and supplement the working capital for overseas construction projects. An amount equal to the net proceeds from this offering will be used either fully or partially to fund eligible projects under the company's sustainable finance framework and/or for refinancing.