China Galaxy Securities sets coupon for three-year bonds at 4.55%

By Marisa Wong

Morgantown, W.Va., July 10 – China Galaxy Securities Co., Ltd. said it set the coupon for its upcoming three-year corporate bonds (Dagong: AAA) at 4.55%.

The coupon was initially talked at 4% to 5%. The final rate was determined through an offline book-building.

The lead underwriter is Industrial Securities Co., Ltd.

As announced on July 5, the company plans to issue RMB 3 billion of three-year bonds on July 10 to July 11. The offering includes an up to RMB 2 billion over-allotment option.

The bonds will be sold at par.

Proceeds will be used to replenish working capital.

The brokerage is based in Beijing.

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