By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – China Galaxy Securities Co., Ltd. issued RMB 5 billion of 4.8% perpetual subordinated bonds on Tuesday, according to a notice.
The coupon will reset every five years, and the company will have the option every five years to extend the term for another five years.
Proceeds will be used to replenish working capital or repay debt.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
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| Issue: | Perpetual subordinated bonds
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| Amount: | RMB 5 billion
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| Tenor: | Perpetual
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| Coupon: | 4.8%, resets every five years with company option to redeem at end of each reset period
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| Settlement date: | Nov. 24
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