Guotai Junan Securities Co. Ltd. received approval from the China Securities Regulatory Commission for a proposed bond issuance of up to 13.6 billion yuan.
The company plans to issue the notes in tranches to qualified investors, according to a March 1 release.
The first tranche issuance will be completed within 12 months of the date of regulatory approval, with the rest to be completed within 24 months.
As of March 1, US$1 was equivalent to 6.36 Chinese yuan.
