China Galaxy sets coupon for upcoming three-year bonds at 4.69%

By Marisa Wong

Morgantown, W.Va., Sept. 15 – China Galaxy Securities Co., Ltd. set the coupon rate for its planned three-year corporate bonds at 4.69%, according to a company announcement.

The coupon was expected to be between 4% and 5%. The final rate was determined through an offline book-building.

The company will offer RMB 3 billion of the bonds (Dagong: AAA) from Sept. 15 to Sept. 18. The offering includes an up to RMB 1 billion over-allotment option.

The lead underwriter is Industrial Securities Co., Ltd.

Proceeds will be used to replenish working capital.

The brokerage is based in Beijing.

© 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.