CGS Concludes Issuance of RMB 5 Billion Perpetual Subordinated Bonds Maturing 2026 (Third Tranche)

Stock News17:48

China Galaxy Securities Co., Ltd. has announced the completion of its public offering for the third tranche of perpetual subordinated bonds due in 2026.

The issuance was finalized on June 11, 2026, following the requisite shareholder authorization and approval from the China Securities Regulatory Commission. The total issuance size for this tranche amounts to RMB 5 billion, priced at RMB 100 per unit.

These bonds are structured with a five-year repricing cycle. At the conclusion of each cycle, the company holds the option to extend the bond's term by an additional five-year cycle or to fully redeem the outstanding principal.

The initial coupon rate for the first five-year period is set at 2.00%. The net proceeds from this bond issuance are designated for the repayment of maturing corporate bond principal.

Underwriters and their affiliates participated in the subscription for this bond tranche. Affiliates of the lead underwriters were among the subscribers: CITIC Trust Co., Ltd., an affiliate of lead underwriter China Securities Co., Ltd., subscribed for and was allocated RMB 280 million; China International Capital Corporation Wealth Management Limited, an affiliate of lead underwriter China International Capital Corporation Limited, subscribed for and was allocated RMB 100 million; Lead underwriter Shenwan Hongyuan Securities Co., Ltd. itself subscribed for and was allocated RMB 260 million, while its affiliate Fullgoal Fund Management Co., Ltd. subscribed for and was allocated RMB 100 million.

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