By William Gullotti
Buffalo, N.Y., Aug. 8 – China Galaxy Securities Co., Ltd. said it issued RMB 5 billion of subordinated corporate bonds in two parts, according to a regulatory announcement on Monday.
The company sold RMB 1.7 billion of 2.46% two-year bonds and RMB 3.3 billion of 2.72% three-year bonds.
Shenwan Hongyuan Securities Co., Ltd. and China International Capital Corp. Hong Kong Securities Ltd. were named as joint lead underwriters for the two-part deal, also working as bookrunners with CMB Wealth Management Co., Ltd., China Merchants Securities Asset Management Co., Ltd., China Merchants Securities Co., Ltd.
According to the announcement, the last three named bookrunners participated in the subscription with the total allotment amount of RMB 780 million.
Proceeds will be used to replenish working capital.
The issuer is a Beijing-based brokerage.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Amount: | RMB 5 billion
|
| Issue: | Subordinated corporate bonds
|
| Bookrunners: | Shenwan Hongyuan Securities Co., Ltd., China International Capital Corp. Hong Kong Securities Ltd., CMB Wealth Management Co., Ltd., China Merchants Securities Asset Management Co., Ltd., China Merchants Securities Co., Ltd.
|
| Price: | Par of RMB 100
|
| Announcement date: | Aug. 8
|
|
|
| Two-year bonds
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| Amount: | RMB 1.7 billion
|
| Tenor: | Two years
|
| Coupon: | 2.46%
|
|
|
| Three-year bonds
|
| Amount: | RMB 3.3 billion
|
| Tenor: | Three years
|
| Coupon: | 2.72%
|
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