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China Merchants Securities to raise up to 5B yuan via bonds

China Merchants Securities Co. Ltd. plans to raise up to 5 billion yuan by issuing corporate bonds via private placement to qualified investors.

The notes will be issued in two tranches with tenors of two and three years, according to a June 8 release, with each tranche comprising up to 2.5 billion yuan of bonds with a 4.78% coupon.

As of June 8, US$1 was equivalent to 6.41 Chinese yuan.