JCET Group raises ¥2.4B in second sci-tech innovation bond at a lower 1.85% coupon
What's the deal? JCET GroupDealroom has a profile for this one. Try Dealroom →, a leading global provider of IC back-end manufacturing and technology services, has completed placement of its first 2026 sci-tech innovation medium-term note. The bond — officially traded as 26 JCET MTN001 (Sci-Tech Bond) — raised ¥2.4 billion ($330M) with a 5-plus-5 year maturity structure at a fixed coupon rate of 1.85%.
China Minsheng Banking Corp. served as lead underwriter and bookrunner, with China Construction BankDealroom has a profile for this one. Try Dealroom → and Industrial BankDealroom has a profile for this one. Try Dealroom → as joint lead underwriters.
Why now? This is JCET's second medium-term note issuance after it received approval in 2025 from the National Association of Financial Market Institutional Investors to register and issue up to ¥4.8 billion in medium-term notes. The first tranche, issued in December 2025, carried a 2.00% coupon rate — making the latest 1.85% rate a notable improvement.
The lower rate signals growing capital-market confidence in JCET's credit profile and long-term prospects. The company said the issuance will help it diversify direct financing channels, optimise its funding structure, and reduce overall borrowing costs.
The signal: JCET is a mature-stage semiconductor assembly and packaging specialist that secured its second ¥2.4 billion tranche in barely six months — this time at a 15-basis-point discount to the first — underscoring how China's capital markets are actively compressing borrowing costs for companies tied to the country's chip self-sufficiency drive. With the full ¥4.8 billion note programme now deployed, the speed and pricing trajectory suggest JCET will have significant financial headroom to double down on advanced packaging at a moment when that capability is central to the global AI hardware race.
Read more: JCET Group
Image: Klaus Folberth, CC BY-SA 3.0, via Wikimedia Commons.
