Zitong Financial App News, China International Capital Corporation (03908) announced that on August 3, 2020, CICC Hong Kong Finance 2016 MTN Limited, a wholly owned subsidiary of the company, entered into a subscription agreement as the issuer, guarantor and the company for the issuance of notes under the plan.

The total principal of the current note is US $500 million with an annual interest rate of 1.75% and a maturity date of August 10, 2023.

The issuer intends to use the net proceeds from the sale of the instrument to repay the existing debts of the guarantor and its subsidiaries, as well as for the working capital of the guarantor and its subsidiaries and other general corporate purposes.