By William Gullotti
Buffalo, N.Y., Sept. 6 – China Galaxy Securities Co., Ltd. said it issued RMB 5 billion of corporate bonds in two parts, according to a regulatory announcement on Tuesday.
The company sold RMB 1 billion of 2.54% three-year bonds and RMB 4 billion of 2.95% five-year bonds.
Guosen Securities Co., Ltd. was the only named underwriter in the announcement due to its subsidiary, Southern Asset Management Co., Ltd., subscribing to the three-year series for RMB 50 million and the five-year series for RMB 120 million.
No other underwriters were named, but the announcement also stated that directors, supervisors, senior management, shareholders holding more than 5% of the shares of China Galaxy and other related parties of the company did not participate in the subscription.
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: | Corporate bonds
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| Underwriter: | Guosen Securities Co., Ltd.
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| Price: | Par of RMB 100
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| Announcement date: | Sept. 5
|
|
|
| Three-year bonds
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| Amount: | RMB 1 billion
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| Tenor: | Three years
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| Coupon: | 2.54%
|
|
|
| Five-year bonds
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| Amount: | RMB 4 billion
|
| Tenor: | Five years
|
| Coupon: | 2.95%
|
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