CTF Services Seeks Approval for New RMB5 Billion Panda Bond Programme to Refinance Debt

An update from NWS Holdings ( (HK:0659) ) is now available.

CTF Services Limited has applied to China’s National Association of Financial Market Institutional Investors for registration of a new RMB5 billion debt financing programme, dubbed the 2026 Panda Bond Programme, following the expiry in April 2025 of its previous two‑year Panda Bond framework under which it issued RMB3.6 billion of medium‑term notes, including a green tranche, on the China Interbank Bond Market. The proposed programme, if approved, would allow the company to issue multiple tranches of Panda bonds over two years, with size, timing and terms set by market conditions and a book‑building process, giving the group a cost‑effective option to refinance existing notes maturing in 2026 and 2027 and to maintain a natural hedge for its largely RMB‑denominated asset and income base amid favourable interest rate differentials between USD/HKD and RMB funding, though the board cautioned that the application outcome, timing and any eventual issuance remain uncertain and subject to market conditions.

The most recent analyst rating on (HK:0659) stock is a Buy with a HK$9.60 price target. To see the full list of analyst forecasts on NWS Holdings stock, see the HK:0659 Stock Forecast page.

More about NWS Holdings

CTF Services Limited, incorporated in Bermuda with limited liability and listed in Hong Kong under stock code 00659, operates through a group structure with substantial assets, operations and income denominated in renminbi. The company is an active issuer in China’s onshore bond market via so‑called Panda bonds and uses renminbi funding both to support its mainland operations and to manage currency risk between RMB and its USD/HKD funding base.

Average Trading Volume: 2,123,769

Technical Sentiment Signal: Buy

Current Market Cap: HK$34.83B

See more data about 0659 stock on TipRanks’ Stock Analysis page.