8th December 2025
Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.
The Ministry of Finance of the People's Republic of China
(the Issuer)
Post-stabilisation Period Announcement
Further to the pre-stabilisation period announcement dated 5th November 2025, Deutsche Bank AG, London (contact: Debt Syndicate, Phone No. +44 207 547 6885) hereby gives notice that no stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014)), and also as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.
| The Securities: | |
| | |
| Issuer: | The Ministry of Finance of the People's Republic of China |
| | |
| Guarantor (if any): | |
| | |
| Aggregate nominal amount: | USD 4bn |
| | |
| Description: | China MOF 3y: USD 2Bn, 3.625% / 5y: USD 2Bn 3.75% |
|
ISIN Code: | 3y: REGs: USY5325QAH57 144A: US60367QAE35 |
| | 5yr: REGs: USY5325QAJ14 144A: US60367QAF00
|
| Issue/reoffer price: | 3y: 99.941% / 5y: 99.833% |
|
Spread over benchmark: |
T 3.5% 10/15/28 + 0bps / T 3.625% 10/31/30 + 2bps |
|
Stabilisation: | |
| | |
| Stabilising Manager(s): | Bank of China Limited, Bank of Communications Co., Ltd. Hong Kong Branch, ABCI Capital Limited, Merrill Lynch (Asia Pacific) Limited, China Construction Bank (Asia) Corporation Limited, China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, London Branch, First Abu Dhabi Bank PJSC, Goldman Sachs (Asia) L.L.C., The Hongkong and Shanghai Banking Corporation Limited, ICBC International Securities Limited, J.P. Morgan Securities (Asia Pacific) Limited, Mizuho Securities Asia Limited and Standard Chartered Bank |
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.
This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.
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