Recently, the State Grid Co., Ltd. successfully issued the first “New Grid” special bond in the entire market on the Shanghai Stock Exchange, with an issuance scale of 10 billion yuan, breaking the market record for the largest issuance of a single 30-year corporate bond. The current bond is the first time in the company's history that it has tried to issue a 30-year bond domestically. The issuance interest rate is 2.30%, which is about 3 basis points lower than the valuation of the same period bond, making it the lowest interest rate for a central enterprise to issue a fixed period bond during the year. The overall subscription ratio reached 3.13 times, which is the highest total number of bond subscriptions for the same period since this year, reflecting the capital market's full recognition of the company's national sovereign credit. After the bonds are listed, the Shanghai Stock Exchange will be included in the scope of benchmark market-making bonds, providing a standardized and comparable long-term price limit reference for the market credit system, further improving the credit market pricing benchmark system, and improving the efficiency of market price discovery.

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