Beijing Capital International Airport Company Limited Announces Application for Registration and Issuance of RMB Medium-Term Notes and Short-Term Debentures in the PRC

Key Highlights

• Beijing Capital International Airport Company Limited (“the Company”) has formally submitted an application to the National Association of Financial Market Institutional Investors (NAFMII) for the registration and issuance of both medium-term notes and short-term debentures, each with an aggregate principal amount of up to RMB 4 billion.
• The Company intends to issue these debt instruments in multiple tranches as market conditions allow. The first tranche of both the medium-term notes and short-term debentures is planned to have a principal amount of RMB 1 billion each.
• The coupon rates for both instruments will be fixed and determined through a centralized book-building process at the time of issuance.
• The proceeds from the first tranche of both the medium-term notes and short-term debentures will be used for repayment of existing debts and replenishment of daily working capital.
• As of the announcement date, the Company has not yet received approval for the application, and the timing and likelihood of approval remain uncertain.
• The draft prospectus related to the application has been disclosed on the NAFMII website for public access.

Details for Investors

The registration of up to RMB 4 billion in both medium-term notes and short-term debentures provides the Company with significant financial flexibility to manage its debt profile and operational liquidity. By issuing these instruments in multiple tranches, the Company aims to optimize its funding costs and align borrowings with its capital requirements.

Specifically, the first tranche of the medium-term notes and short-term debentures, each with a principal amount of RMB 1 billion, will have their coupon rates determined through a centralized book-building process, ensuring market-driven pricing. The funds raised are earmarked for the repayment of existing debts and for bolstering the Company’s working capital, which is generally viewed positively as it can reduce interest costs and improve financial stability.

It is important for shareholders and potential investors to note that the approval process for the registration and issuance is ongoing. There is no certainty at this stage as to whether, or when, the approval will be granted. Furthermore, the Company has highlighted that the prospectus, as disclosed on NAFMII’s website, may be subject to change. The final terms, including the principal amount, interest rate, and use of proceeds, will be detailed in the prospectus at the time of issuance.

The Company will issue further announcements regarding the issuance of the first tranches as required under the Hong Kong Listing Rules and the Securities and Futures Ordinance. Investors are strongly advised to monitor these developments closely.

Potential Price Sensitive Information

• The registration and potential issuance of a total of up to RMB 8 billion in debt securities (across both instruments) could have a material impact on the Company’s capital structure, liquidity, and interest expenses.
• The allocation of proceeds for debt repayment and working capital could improve the Company’s balance sheet and operational flexibility, which may be viewed favorably by the market.
• However, as there is no certainty of approval or timing for the issuance, this introduces an element of uncertainty that shareholders should consider in their investment decisions.
• The Company has advised shareholders and potential investors to exercise caution when dealing in its securities, given the current uncertainty regarding the approval and terms of the issuance.

Next Steps

The Company will continue to update shareholders and the market as and when there are material developments regarding the application and issuance process. All relevant information and formal announcements will be made available through the Hong Kong Stock Exchange and the Company’s website.

Investors are encouraged to review the draft prospectus on the NAFMII website and stay alert for further updates.

Board Composition

As of the announcement date, the Board of Directors consists of:

• Executive Directors: Mr. Song Kun, Mr. Li Yongbing
• Non-executive Directors: Mr. Du Qiang, Mr. Xue Rongguo, Mr. Shen Lancheng
• Employee Director: Mr. Liu Jiliang
• Independent Non-executive Directors: Mr. Zhang Jiali, Mr. Stanley Hui Hon-chung, Mr. Wang Huacheng, Ms. Duan Donghui

Disclaimer: The above article is based on information disclosed by Beijing Capital International Airport Company Limited as of 17 March 2026. The information is subject to change, and the approval and terms of the note and debenture issuance are not guaranteed. This article does not constitute investment advice. Investors should exercise caution and consider seeking professional advice before making any investment decisions.

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