By Marisa Wong
Morgantown, W.Va., March 14 – China Galaxy Securities Co., Ltd. set the coupon rate for its three-year corporate bonds at 5.15%, according to a company announcement.
The coupon was expected to be between 5% and 5.6%. The final rate was determined through an offline book-building.
The company announced on March 8 that it would offer RMB 2.5 billion of the bonds (Dagong: AAA) from March 12 to March 14. The bonds were issued on Wednesday.
The lead underwriter was Industrial Securities Co., Ltd.
Proceeds will be used to replenish working capital.
The brokerage is based in Beijing.
| Issuer: | China Galaxy Securities Co., Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 2.5 billion
|
| Maturity: | Three years
|
| Underwriter: | Industrial Securities Co., Ltd.
|
| Coupon: | 5.15%
|
| Price talk: | 5%-5.6%
|
| Offer period: | March 12-March 14
|
| Settlement date: | March 14
|
| Rating: | Dagong: AAA
|
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