Contemporary Amperex Technology Co., Ltd. (CATL) has recently been highly active in the capital markets. Following the completion of a medium-term note issuance on February 9, the company immediately launched a new round of corporate bond issuance on the Shenzhen Stock Exchange (SZSE). The combined scale of these two financing activities totals RMB 10 billion.
Shenzhen Stock Exchange: RMB 5 Billion Sci-Tech Innovation Bond Officially Issued Today
According to the prospectus, CATL officially launched the "2026 Public Issuance of Science and Technology Innovation Corporate Bonds to Professional Investors (Phase I)" on February 12.
The issuance scale for this tranche is capped at RMB 5 billion. It is a 5-year fixed-rate bond utilizing a "3+2" structure. This means that at the end of the third year of the bond's life, the issuer has the right to adjust the coupon rate, while investors hold a put option (the right to sell the bond back). The value date is set for February 12, 2026, with China Securities Co., Ltd. serving as the lead underwriter and bond trustee.
After deducting issuance costs, the proceeds will be primarily used for project construction, replenishing working capital, and repaying interest-bearing liabilities. This financing will further support the company’s R&D and capacity layout in the fields of power batteries and energy storage batteries.
Interbank Bond Market: RMB 5 Billion in Green Funds Raised at 1.7% Rate
Just prior to the Sci-Tech Innovation Bond issuance on the SZSE, CATL completed a large-scale financing round in the interbank bond market.
According to company announcements, its "2026 Phase I Green Science and Technology Innovation Bond" was successfully issued on February 6, 2026, with the funds officially received on February 9.
The total issuance amount for this bond was RMB 5 billion, featuring a "3+2" year maturity structure. The final issuance interest rate was set at 1.70%. China Merchants Bank served as the lead underwriter and bookrunner.
Backed by Massive Cash Reserves, Diversified Financing Fuels Long-Term Development
This series of financing actions stems primarily from resolutions made at the end of 2025. In December 2025, the company convened a Board of Directors meeting and an Extraordinary General Meeting of Shareholders, where they deliberated and passed a proposal to register and issue bonds not exceeding RMB 10 billion.
Financially, CATL maintained robust cash reserves as of the third quarter of 2025. The ending balance of monetary funds and financial assets held for trading totaled over RMB 360 billion.
The consecutive issuance of these two bonds, totaling nearly RMB 10 billion, will further optimize the company's long-term debt structure. This move is expected to provide long-term, stable financial support for subsequent green manufacturing innovations and global capacity expansion.
Source：EnergyTrend