By Marisa Wong
Madison, Wis., Dec. 15 – China Galaxy Securities Co., Ltd. announced it completed the issuance of RMB 5.8 billion of bonds on Monday.
The company priced RMB 3.2 billion of two-year bonds and RMB 2.6 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.
These are the company’s 11th and 12th 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 5.8 billion
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Settlement date: | Dec. 15
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11th tranche
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Amount: | RMB 3.2 billion
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Maturity: | Two years
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Price: | Par of RMB 100
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12th tranche
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Amount: | RMB 2.6 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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