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China Galaxy Securities to raise 2.5B yuan in corporate bonds

China Galaxy Securities Co. Ltd. plans to raise 2.5 billion yuan through the issuance of corporate bonds.

The three-year bonds will bear an indicative coupon rate range of between 5.00% and 5.60%, according to a March 8 release.

The bonds will be offered to investors from March 12 to March 14. Funds raised from the issuance will be used to replenish the company's working capital.

As of March 8, US$1 was equivalent to 6.34 Chinese yuan.