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CITIC Securities to redeem 8.5B yuan of bonds

CITIC Securities Co. Ltd. plans to redeem 8.5 billion yuan of subordinated bonds issued in 2015.

The five-year bonds carry a 5.00% coupon, with an option for the issuer to redeem them after three years, according to a July 4 release.

The bonds are set to be redeemed July 16 and delisted the same day from the Shanghai Stock Exchange.

As of July 4, US$1 was equivalent to 6.63 Chinese yuan.