Zhi Tong Cai Jing·2025-04-22 04:32Core Viewpoint - China Railway Group Limited (601390) has received approval from the China Securities Regulatory Commission to publicly issue corporate bonds totaling no more than 50 billion RMB, with a specific issuance of 25 billion RMB for the first phase of the bonds [1][2] Group 1 - The total face value of the corporate bonds to be issued is capped at 50 billion RMB, with the approval valid until April 3, 2027 [1] - The first phase of the bond issuance includes two types: Type One with a basic term of 3 years and Type Two with a basic term of 5 years, both allowing for extensions [1] - The bonds will be issued at a face value of 100 RMB each, with a maximum issuance scale of 25 billion RMB for the first phase [1] Group 2 - The coupon rate for Type One bonds is set between 1.60% and 2.60%, while Type Two bonds have a coupon rate range of 1.80% to 2.80% [2] - The final coupon rates will be determined based on the results of offline inquiries and will be set within the specified ranges [2] - Type One bonds are referred to as "25铁YK03" with the bond code "242841.SH", and Type Two bonds are referred to as "25铁YK04" with the bond code "242842.SH" [2]