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Guotai Junan Securities to redeem 9B yuan of debt

Guotai Junan Securities Co. Ltd. plans to redeem 9 billion yuan of bonds that were issued in 2016 and 2015.

The company said in an Oct. 9 release that it will redeem 4 billion yuan of subordinated bonds that were issued on a private placement basis in 2016.

The four-year notes carry a 3.14% coupon and an option for the issuer to redeem them after two years.

Guotai Junan Securities also said in an Oct. 8 release that it will redeem 5 billion yuan of company bonds that were publicly issued in 2015.

The five-year notes carry a 3.6% coupon and an option for the company to redeem them after three years.

Further details of both redemption exercises will be released at a later date.

As of Oct. 9, US$1 was equivalent to 6.92 Chinese yuan.