Xin Lang Cai Jing·2025-12-12 08:29Core Insights - The successful issuance of a 5 billion yuan merger note by CITIC Bank marks a significant milestone in China's merger financing market, being the largest in history and a pilot project under new regulations [1][4] - The project focuses on investing in strategically important resources, providing timely financing for the restructuring and upgrading of large state-owned enterprises [1][4] Group 1 - The issuance is expected to initiate a new dual-driven model of "merger loans + merger bonds" in the domestic merger financing market [2][5] - CITIC Bank has leveraged its expertise in bond financing and merger finance to optimize financing scales, terms, and costs for enterprises, showcasing its innovative capabilities [2][6] Group 2 - CITIC Bank has been a leader in direct financing, enhancing the breadth and depth of corporate bond financing, and has played a crucial role in supporting the real economy [3][6] - The bank has consistently been at the forefront of financial support for national strategies, having underwritten over 40% of the first batch of pilot projects for the "Technology Board" launched in May [3][6]