Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-06 23:44Group 1 - The issuer of the bond is China National Railway Group Co., Ltd., which is the new name for the former China Railway Corporation [1][39] - The bond being issued is the "2026 First Phase China Railway Construction Bond" with a total issuance scale of 5 billion yuan [4][40] - The lead underwriter for this bond issuance is CITIC Securities [5][39] Group 2 - The bond will be issued through a single-rate (Dutch-style) bidding process, with the bidding rate range set between 1.15% and 2.15% [41][42] - The bidding will take place on January 8, 2026, with results announced on January 9, 2026 [20][23] - The final interest rate will be determined based on market bidding results and will remain fixed throughout the bond's duration [41][42] Group 3 - The bond proceeds must be paid by the winning bidders by noon on January 9, 2026 [24][26] - In case of default by a winning bidder, the issuer and lead underwriter have the right to dispose of the awarded bonds and the defaulting bidder must compensate for any losses incurred [27][39] - The bonds will be registered and held in a real-name accounting system at the Shanghai Stock Exchange and the Central Clearing Company [28][42]