China Railway (00390) plans to issue corporate bonds of up to 3 billion yuan.

China Railway (00390) announced that China Railway Limited Company (hereinafter referred to as the "issuer", "company", "this company") publicly issued company bonds with a total face value not exceeding 60 billion yuan (hereinafter referred to as "this bond"), which was approved by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") on June 19, 2023 (CSRC approval [2023] No.1327). The validity period of the issuer's approval expires on June 19, 2025, and the deadline for payment of this bond will not be later than the expiration date of the approval. The total amount of bonds issued under this approval is within the approved scale. This bond is issued in stages. Among them, China Railway Limited Company will publicly issue technology innovation renewable corporate bonds to professional investors in 2025 (first phase) (hereinafter referred to as "this bond"), which is the 20th issue under the registration document, with a total issuance scale of not more than 3 billion yuan (including 3 billion yuan). The face value of each bond is 100 yuan, and the issue price is 100 yuan per bond. This bond is divided into two types. The first type has a basic term of 5 years, with each 5 interest years as 1 cycle. At the end of each cycle, the issuer has the option to extend the term of this bond by 1 cycle (i.e. extend for 5 years) or choose to fully redeem the bond at the end of that cycle; the second type has a basic term of 10 years, with each 10 interest years as 1 cycle. At the end of each cycle, the issuer has the option to extend the term of this bond by 1 cycle (i.e. extend for 10 years) or choose to fully redeem the bond at the end of that cycle. The nominal interest rate range for the first type of this bond is 1.70%-2.70%, and for the second type is 1.90%-3.00%. The nominal interest rate of this bond will be determined by the results of the offline inquiry bookkeeping, determined by the issuer and the lead underwriter within the interest rate inquiry range in accordance with relevant national regulations. The issuer and the lead underwriter will conduct an interest rate inquiry with offline professional institutional investors on March 7, 2025 (T-1 day), and determine the final nominal interest rate of this bond based on the results of the inquiry. The issuer and the lead underwriter will announce the final nominal interest rate of this bond on the website of the Shanghai Stock Exchange on March 7, 2025 (T-1 day), please pay attention to investors. The abbreviation of the first type of this bond is "25 Iron YK01", with a bond code of "242525.SH"; the abbreviation of the second type of this bond is "25 Iron YK02", with a bond code of "242526.SH". Professional institutional investors can participate in offline inquiry subscriptions through the exchange credit bond centralized bookkeeping system or by submitting the "China Railway Limited Company 2025 publicly issued technology innovation renewable corporate bonds (first phase) offline interest rate inquiry and subscription application form" to the bookkeeping manager. The minimum offline subscription amount for professional institutional investors is 10 million yuan (including 10 million yuan), and any amount over 10 million yuan must be in multiples of 10 million yuan, unless otherwise specified by the bookkeeping manager.