CHINARES PHARMA (03320) subsidiary completes public offering of the first tranche of 2025 corporate bonds.

CHINARES PHARMA (03320) announced that its non-wholly owned subsidiary, CHINARES PHARMA Business Group Limited (CHINARES PHARMA Business), has obtained approval from the China Securities Regulatory Commission (CSRC Permit [2024] 1356) to issue the first tranche of corporate bonds in China (2025 corporate bonds). The approval allows CHINARES PHARMA Business to publicly issue corporate bonds with a total principal amount not exceeding RMB 20 billion to professional investors in China for a period of two years, starting from September 29, 2024. The board of directors is pleased to announce that the first tranche of 2025 corporate bonds with a total amount of RMB 1.6 billion has been issued, with a maturity period of three years and a fixed annual interest rate of 1.92%. The net proceeds from the issuance of the first tranche of 2025 corporate bonds will be used to repay interest-bearing debts.