By William Gullotti
Buffalo, N.Y., July 17 – China Galaxy Securities Co., Ltd. issued RMB 5 billion of corporate bonds in two parts, according to a regulatory announcement on Monday.
The company sold RMB 3 billion of 2.74% three-year bonds and RMB 2 billion of 3.08% five-year bonds, each with a par value of RMB 100.
No underwriters were named in the announcement, as no related parties of the company or the underwriters reportedly participated in the subscription.
Proceeds will be used to replenish working capital.
Dubbed the first tranche of corporate bonds, this marks the fifth issuance by China Galaxy in 2023. It is a drawdown from the brokerage’s previously reported July 2022 approval to issue up to RMB 30 billion corporate bonds within 24 months.
The issuer is a Beijing-based brokerage.
| Issuer: | China Galaxy Securities Co., Ltd.
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| Amount: | RMB 5 billion
|
| Issue: | Corporate bonds, first tranche
|
| Price: | Par of RMB 100
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| Announcement date: | July 17
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| Three-year bonds
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| Amount: | RMB 3 billion
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| Tenor: | Three years
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| Coupon: | 2.74%
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| Yield: | 2.74%
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|
|
| Five-year bonds
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| Amount: | RMB 2 billion
|
| Tenor: | Five years
|
| Coupon: | 3.08%
|
| Yield: | 3.08%
|
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