China state-owned investment firm's 30-year bond is oversubscribed

Investors queue up for ultra-long-term credit debt issued by China Chengtong

20240322 Caixin bond

China Chengtong boasts a prestigious AAA credit and debt rating.

WANG JUANJUAN and DENIS JIA, Caixin

China Chengtong Holding Group, the state-owned capital management firm, issued a 1 billion yuan ($139 million) 30-year bond on Wednesday. This is the first ultra-long-term credit debt issued in recent years.

The proceeds of the bonds, with a coupon rate of 3.35%, will be used to repay existing debt, China Chengtong said.

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