BOE Technology Group (BOE A) has received regulatory approval to issue up to 10 billion yuan in corporate bonds, with the first tranche capped at 2 billion yuan. The five-year bonds will carry a coupon rate ranging between 1.50%-2.50%, with the final rate to be set on June 11, 2025. Each bond will have a face value of 100 yuan and be issued at par.
The offering comes as BOE demonstrates solid financial capacity, with 207.3 billion yuan in net assets as of March 2025. The display panel maker’s three-year average annual distributable profit of 5.137 billion yuan provides comfortable coverage of at least 1x the bonds’ annual interest obligations.
This marks BOE’s first bond issuance under its newly approved 10 billion yuan debt financing program. The conservative coupon range reflects both the company’s strong credit profile and current low-rate environment for high-quality industrial issuers in China’s interbank market.
Proceeds will likely support BOE’s ongoing capacity expansion and R&D initiatives in advanced display technologies. The bond’s five-year tenor provides stable medium-term financing, with the modest coupon expectation suggesting strong institutional demand for the offering.
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