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Citic Securities to raise up to 2B yuan via subordinated bonds

CITIC Securities Co. Ltd. plans to issue up to 2 billion yuan of subordinated bonds to qualified investors between May 18 and May 22.

The notes will carry a tenor of five years at a coupon rate to be determined May 17, the company said in a May 15 release.

As of May 15, US$1 was equivalent to 6.38 Chinese yuan.