By Marisa Wong
Morgantown, W.Va., Sept. 20 – China Galaxy Securities Co., Ltd. said it issued RMB 3.5 billion of three-year bonds on Monday.
The bonds were priced at par of RMB 100 with an initial coupon of 3.18%.
The coupon may be adjusted at the end of the second year, at which point investors will have a put option.
This is China Galaxy’s first tranche of corporate bonds for 2016.
Proceeds will be used to supplement working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Issue: | Corporate bonds, 2016 first tranche
|
| Amount: | RMB 3.5 billion
|
| Maturity: | Three years
|
| Coupon: | 3.18% with adjustment option at end of second year
|
| Price: | Par of RMB 100
|
| Put option: | At end of second year
|
| Settlement date: | Sept. 19
|
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