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China Galaxy Securities raises 6.6B yuan in bonds

China Galaxy Securities Co. Ltd. raised 6.6 billion Chinese yuan through the issuance of subordinated bonds in two tranches.

The company said March 11 that it issued 3.2 billion yuan of two-year bonds with a coupon rate of 4.10% and 3.4 billion yuan of three-year bonds with a coupon rate of 4.25%.

Proceeds of the issuance will be utilized to supplement the company's working capital or repay its interest-bearing debts.

As of March 11, US$1 was equivalent to 6.73 Chinese yuan.