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 US$137.5M (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 US$1.38B. 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 US$550M, followed in 2026 by Tranche 1 at US$137.5M, Tranche 2 at US$275M, and Tranche 3 at US$137.5M.
With Tranche 4, its issuance under the approved registration now totals US$1.24B, close to the US$1.38B 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
