Shenzhen International raises $150M in fourth 2026 note tranche
What's the deal? Shenzhen International Holdings LimitedDealroom has a profile for this one. Try Dealroom → completed the issuance of its 2026 Medium-Term Notes Tranche 4, raising RMB 1,000 million (roughly $150 million) on September 11, 2026. The notes carry a coupon rate of 2.07% and a 10-year term.
Why now? The issuance draws on approval from the National Association of Financial Market Institutional Investors to register debt financing instruments totalling no more than RMB 10,000 million. Tranche 4 is the latest step in a steady drawdown of that programme.
What's the endgame? The company has tapped the programme repeatedly. It issued the 2024 Medium-term Notes Tranche 1 for RMB 4,000 million, followed in 2026 by Tranche 1 at RMB 1,000 million, Tranche 2 at RMB 2,000 million, and Tranche 3 at RMB 1,000 million.
With Tranche 4, its issuance under the approved registration now totals RMB 9,000 million, close to the RMB 10,000 million ceiling.
The signal: The low 2.07% coupon points to favourable financing conditions for established issuers in China's onshore bond market. Shenzhen International's methodical use of its debt registration reflects a preference for long-dated, low-cost funding to support its operations.
Image credit: dominiekth
