Seazen Holdings Co., Ltd. has officially launched its first tranche of 2026 corporate bonds aimed at professional investors, with a total offering size capped at 400 million yuan (inclusive). The issuance received regulatory approval from the China Securities Regulatory Commission on August 25, 2026, under the registration document reference "CSRC License [2026] No. 2256," and this offering represents the initial issuance under that registration framework.

The bond offering is structured into two separate tranches. The first tranche, designated as "26 Xinhji 01" with the security code 246108, will have a maximum issuance size of 300 million yuan (inclusive). The second tranche, branded as "26 Xinhji 02" and trading under code 246109, is capped at 100 million yuan (inclusive). Both tranches carry a face value of 100 yuan per bond and will be issued at par, each with a two-year tenor. Notably, both include an issuer redemption option, an issuer's right to adjust the coupon rate, and an investor put-back option, all exercisable at the end of the first year.

In terms of credit enhancement, the first tranche is backed by a mortgage collateral structure, whereas the second tranche does not feature any form of credit support. The coupon rate inquiry ranges differ significantly between the two: the first tranche's indicative pricing corridor is set between 6.00% and 7.00%, while the second tranche's range falls between 4.00% and 5.00%.

The issuer and its lead underwriter are scheduled to conduct the book-building process with institutional professional investors on September 21, 2026 (T-1 day). The final coupon rates for both tranches will be announced on the Shanghai Stock Exchange's official website on the same day. This bond offering is exclusively available to professional investors, with a minimum subscription amount of 5 million yuan (inclusive), and any amounts above this threshold must be in multiples of 5 million yuan.

The lead underwriter, bookrunner, and bond trustee for this issuance is CITIC Securities. The information presented here is compiled from publicly available sources and is intended for reference purposes only, not constituting any form of investment advice. Investors are advised to conduct their own due diligence before making any decisions.