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Southwest Securities to repurchase up to 2B yuan of bonds

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Southwest Securities to repurchase up to 2B yuan of bonds

China's Southwest Securities Co. Ltd. plans to repurchase up to 2 billion yuan of bonds that it issued in 2015.

Bondholders can register for their notes to be repurchased between June 13 and June 20, with the payment date set for July 23.

The five-year bonds carry a coupon of 3.67% for the first three years, with an option for the issuer to repurchase after the end of the third year. The company plans to raise the rate to 5.37% for the next two years.

As of June 11, US$1 was equivalent to 6.40 Chinese yuan.