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Dongxing Securities to buy back up to 2.8B yuan of bonds ahead of maturity

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Dongxing Securities to buy back up to 2.8B yuan of bonds ahead of maturity

Dongxing Securities Co. Ltd. plans to repurchase up to 2.8 billion yuan of bonds that it issued in 2016 to qualified investors.

Bondholders can register for their notes to be repurchased between Dec. 21 and Dec. 25, with the payment date set for Jan. 14, 2019, according to a Dec. 17 release.

The five-year bonds were priced with a coupon of 3.03% for the first three years, with an option for the issuer to repurchase after the end of the third year. The coupon rate will stay unchanged for the next two years.

As of Dec. 14, US$1 was equivalent to 6.91 Chinese yuan.