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Guolian Securities issues 700M yuan of bonds

Guolian Securities Co. Ltd. issued 700 million Chinese yuan of corporate bonds.

The company said Feb. 7 that the bonds have a maturity of two years with an interest rate of 5.65% per annum.

The funds raised in the issuance will be primarily used for replenishing the working capital of the company.

The bond issue is the first tranche of a planned 3-billion-yuan bond issue.

As of Feb. 7, US$1 was equivalent to 6.27 Chinese yuan.