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China Huarong Asset Management to issue US$1.5B of securities

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China Huarong Asset Management to issue US$1.5B of securities

China Huarong Asset Management Co. Ltd. is planning to issue unsubordinated guaranteed perpetual securities worth US$1.5 billion, Reuters reported.

The notes will be issued under the asset manager's US$10 billion medium-term note program.

Proceeds from the issue will be used for working capital and general corporate purposes.