China Galaxy Securities plans RMB 5 billion three-, five-year bonds

By Marisa Wong

Morgantown, W.Va., Feb. 8 – China Galaxy Securities Co., Ltd. said it plans to issue up to RMB 5 billion of three- and five-year corporate bonds (Dagong: AAA).

The company expects to issue RMB 3 billion of the three-year bonds and RMB 2 billion of the five-year bonds but may shift some proceeds from one tranche to the other.

Pricing will be determined through an offline bookbuilding.

The lead underwriter is Industrial Securities Co., Ltd.

Proceeds will be used to replenish working capital.

The brokerage is based in Beijing.

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