By Marisa Wong
Madison, Wis., Sept. 11 - China Galaxy Securities Co. Ltd. said it completed the issue of RMB 2.5 billion of one-year subordinated bonds on Wednesday.
The bonds were issued at par.
This is China Galaxy's third tranche of short-term subordinated bonds. They were issued concurrently with a fourth tranche, RMB 200 million of 90-day bonds.
The company previously announced that it planned to issue up to RMB 12 billion of short-term subordinated bonds. The first tranche, RMB 500 million of 90-day bonds, settled on Aug. 15, and the second tranche, RMB 1 billion of one-year bonds, settled on Sept. 10.
The Beijing-based brokerage will use proceeds from the third tranche to supplement its liquid capital.
| Issuer: | China Galaxy Securities Co. Ltd.
|
| Issue: | Short-term subordinated bonds, third tranche
|
| Amount: | RMB 2.5 billion
|
| Maturity: | One year
|
| Price: | Par
|
| Settlement date: | Sept. 11
|
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