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CSC Financial to redeem 2B yuan of perpetual bonds

CSC Financial Co. Ltd. plans to redeem 2 billion Chinese yuan of perpetual bonds that it issued in January 2015.

The bonds have a coupon of 6% and an option for the issuer to decide whether to redeem them every five years.

The redemption date is set for Jan. 20, 2020, according to a Dec. 6 release.

As of Dec. 6, US$1 was equivalent to 7.04 Chinese yuan.