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Guoyuan Securities to issue up to 6B yuan of convertible debt

Guoyuan Securities Co. Ltd. plans to issue up to 6 billion Chinese yuan worth of convertible bonds.

The six-year notes, whose coupon rate is yet to be determined, can be converted into China-listed shares.

Proceeds will go toward expanding the company's credit business, optimizing its brokerage operations and boosting investment into its asset management operations, among others, according to May 18 filings.

As of May 17, US$1 was equivalent to 6.37 Chinese yuan.