By William Gullotti
Buffalo, N.Y., Dec. 14 – China Galaxy Securities Co., Ltd. issued RMB 5 billion of corporate bonds in two parts, according to a regulatory announcement on Thursday.
The company sold RMB 2 billion of 2.98% three-year bonds and RMB 3 billion of 3.14% five-year bonds, each with a par value of RMB 100.
Guotai Junan Securities Co., Ltd., a related party to underwriter Guosen Securities Co., Ltd., subscribed to the three-year series for a total of RMB 150 million. DFZQ, a related party to underwriter Orient Securities Investment Banking Co., Ltd., subscribed to the five-year series for a total of RMB 20 million.
Other underwriters and their related parties did not participate in the subscription of the bonds.
Proceeds will be used to replenish working capital.
Dubbed the fourth tranche of corporate bonds, this marks the ninth 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
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| Issue: | Corporate bonds, fourth tranche
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| Underwriters: | Guosen Securities Co., Ltd., Orient Securities Investment Banking Co., Ltd.
|
| Announcement date: | Dec. 14
|
|
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| Three-year bonds
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| Amount: | RMB 2 billion
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| Tenor: | Three years
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| Coupon: | 2.98%
|
| Price: | Par of RMB 100
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| Yield: | 2.98%
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|
|
| Five-year bonds
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| Amount: | RMB 3 billion
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| Tenor: | Five years
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| Coupon: | 3.14%
|
| Price: | Par of RMB 100
|
| Yield: | 3.14%
|
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