CH MODERN D (01117) has announced that its non-wholly owned subsidiary, CH MODERN D (Group) Co., Ltd., has received approval from the National Association of Financial Market Institutional Investors in China to issue an onshore perpetual medium-term note with a principal amount of RMB 500 million. The note carries an annual interest rate of 2.50% and has a term structure of 2+N years, meaning an initial maturity of two years, after which it will remain outstanding indefinitely unless redeemed by the issuer. The medium-term notes have been issued to qualified domestic institutional investors in China. China Merchants Bank Co., Ltd. acted as the lead underwriter for the issuance, while Ping An Bank Co., Ltd. served as the joint lead underwriter. The issuer has been assigned an AA+ credit rating by Zhongchengxin International Credit Rating Co., Ltd. The proceeds from the issuance will be used to repay promissory notes associated with the operation of green industry projects.