By Marisa Wong
Madison, Wis., Dec. 5 – China Galaxy Securities Co., Ltd. announced it completed the issuance of RMB 3 billion of bonds on Friday.
The company priced RMB 1.5 billion of two-year bonds and RMB 1.5 billion of three-year bonds at par.
At the end of the first year, the company may call the three-year bonds or increase the coupon rate. The three-year bonds are also putable.
This is the company’s ninth and 10th tranches of subordinated bonds for 2014.
Proceeds will be used to supplement working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
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| Issue: | Subordinated bonds
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| Amount: | RMB 3 billion
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| Settlement date: | Dec. 5
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| Ninth tranche
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| Amount: | RMB 1.5 billion
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| Maturity: | Two years
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| Price: | Par of RMB 100
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| 10th tranche
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| Amount: | RMB 1.5 billion
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| Maturity: | Three years
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| Price: | Par of RMB 100
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| Call option: | At the end of the first year
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| Put option: | Yes
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