China Merchants Securities Co. Ltd. priced bonds that it plans to sell to qualified investors.
The notes were expected to be issued Aug. 8 in two tranches worth up to 5 billion yuan in total. The company said Aug. 7 that it has decided to call back the five-year tranche of bonds while pricing the other three-year one at a coupon rate of 3.94%.
The company will determine the issuance's size at a later date.
As of Aug. 7, US$1 was equivalent to 6.83 Chinese yuan.