By William Gullotti
Buffalo, N.Y., Jan. 13 – China Galaxy Securities Co., Ltd. issued RMB 2.5 billion of 3.58% two-year subordinated bonds at par, according to a notice on Friday.
The fixed-rate bonds are issued as part of China Galaxy’s 24-month authorization to issue up to RMB 30 billion of subordinated bonds from June 21, 2021.
China Merchants Securities Co., Ltd., Shenwan Hongyuan Securities Co., Ltd. and China International Capital Corp., Ltd. were the joint lead underwriters for the offering with China Merchants as the lead.
According to the notice, Zheshang Securities Co., Ltd., CIB Fund Management Co., Ltd., CMB Wealth Management Co., Ltd. and China International participated in the subscription with a total allocation of RMB 610 million.
Proceeds will be used to replenish working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
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| Amount: | RMB 2.5 billion
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| Issue: | Subordinated bonds
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| Tenor: | Two years
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| Underwriters: | China Merchants Securities Co., Ltd. (lead), Shenwan Hongyuan Securities Co., Ltd. and China International Capital Corp., Ltd.
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| Coupon: | 3.58%
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| Price: | Par, RMB 100 per unit
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| Yield: | 3.58%
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| Issue date: | Jan. 13
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