CITIC Securities guarantees subsidiaries' debt issuance

CITIC Securities (SSE: 600030) announced it will provide guarantees for debt issuance activities by its subsidiaries. The company will guarantee $20 million for CITIC Securities Finance MTN Co., Ltd. (CS MTN) concerning its European commercial paper program, and $20 million for CSI MTN Limited related to its medium-term note program. Following these guarantees, CITIC Securities' total guarantee amount for CS MTN reaches $1.088 billion, including existing notes. A further $26.46 billion has been guaranteed by CITIC Securities International for CSI MTN. The company clarified that these guarantees are for subsidiaries within the consolidated financial statements. As of the announcement date, the total amount of external guarantees exceeds 50% of the company's latest audited net assets, with some subsidiaries' asset-liability ratios exceeding 70%, prompting investor caution.