By Marisa Wong
Morgantown, W.Va., June 1 – China Galaxy Securities Co., Ltd. said it will issue RMB 5.5 billion of three- and five-year corporate bonds.
The three-year bonds will have a coupon of 3.1%, and the five-year bonds will have a coupon of 3.35%, according to a Wednesday announcement.
Earlier in the week, the company announced that the coupon would be between 2½% and 3½% for the three-year bonds and between 2.8% and 3.8% for the five-year bonds. The final rates were determined through an offline book-building process.
The initial issue size of the three-year bonds is RMB 3 billion, and the initial size of the five-year bonds is RMB 2.5 billion. Reallocations may be made between the two types of bonds, the company said.
The bonds will be sold at par from June 1 to June 2.
Cinda Securities Co. Ltd. and Caitong Securities Co., Ltd. are the lead underwriters for the public offering.
Proceeds will be used to replenish working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 5.5 billion
|
| Underwriters: | Cinda Securities Co. Ltd. and Caitong Securities Co., Ltd.
|
| Announcement date: | May 30
|
| Pricing date: | June 1
|
| Offer period: | June 1-2
|
| Rating: | Dagong Global Credit Rating Co., Ltd.: AAA
|
|
|
| Type 1 bonds
|
| Amount: | RMB 3 billion initially, may be reallocated
|
| Maturity: | Three years
|
| Coupon: | 3.1%
|
| Price: | Par of RMB 100
|
| Yield: | 3.1%
|
| Price talk: | 2½%-3½%
|
|
|
| Type 2 bonds
|
| Amount: | RMB 2.5 billion initially, may be reallocated
|
| Maturity: | Five years
|
| Coupon: | 3.35%
|
| Price: | Par of RMB 100
|
| Yield: | 3.35%
|
| Price talk: | 2.8%-3.8%
|
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