By William Gullotti
Buffalo, N.Y., April 17 – China Galaxy Securities Co., Ltd. issued RMB 5 billion of subordinated bonds in two parts, according to a regulatory announcement on Monday.
The company sold RMB 1 billion of 3.09% two-year bonds and RMB 4 billion of 3.34% three-year bonds, each with a par value of RMB 100.
The only named underwriters, China Merchants Securities Co., Ltd. and its related parties as well as Shenwan Hongyuan Securities Co., Ltd. and its related parties, participated in the subscription of the subordinated bonds with total allocation amounts of RMB 420 million and RMB 61 million, respectively.
No other underwriters were named; the announcement further stated that no related parties of the company or the underwriters participated in the subscription.
Proceeds will be used to repay matured debt.
The issuer is a Beijing-based brokerage.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Amount: | RMB 5 billion
|
| Issue: | Subordinated bonds
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| Underwriters: | China Merchants Securities Co., Ltd. and Shenwan Hongyuan Securities Co., Ltd.
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| Price: | Par of RMB 100
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| Announcement date: | April 17
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| Two-year bonds
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| Amount: | RMB 1 billion
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| Tenor: | Two years
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| Coupon: | 3.09%
|
|
|
| Three-year bonds
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| Amount: | RMB 4 billion
|
| Tenor: | Three years
|
| Coupon: | 3.34%
|
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