By Marisa Wong
Morgantown, W.Va., Aug. 23 – China Galaxy Securities Co., Ltd. said it will issue RMB 1.5 billion of three-year corporate bonds and RMB 1 billion of five-year corporate bonds.
The three-year bonds will have a coupon of 2.89%, and the five-year bonds will have a coupon of 3.14%, according to a Tuesday announcement.
Last 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 bonds will be sold at par of RMB 100 from Aug. 23 to Aug. 25.
The lead underwriter is Industrial Securities Co., Ltd.
Proceeds will be used for working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 2.5 billion
|
| Underwriter: | Industrial Securities Co., Ltd.
|
| Announcement date: | Aug. 19
|
| Offer period: | Aug. 23-Aug. 25
|
|
|
| Three-year bonds
|
| Amount: | RMB 1.5 billion
|
| Maturity: | Three years
|
| Coupon: | 2.89%
|
| Price: | Par of RMB 100
|
| Yield: | 2.89%
|
| Price talk: | 2½%-3½%
|
|
|
| Five-year bonds
|
| Amount: | RMB 1 billion
|
| Maturity: | Five years
|
| Coupon: | 3.14%
|
| Price: | Par of RMB 100
|
| Yield: | 3.14%
|
| Price talk: | 2.8%-3.8%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
