CITIC Securities unit issues $70m in notes, subsidiary provides guarantee

CSI MTN Limited, an indirect subsidiary of CITIC Securities, has issued $70 million in medium-term notes under its existing medium-term note program. This brings the total outstanding principal under the program to $2.864 billion. The notes are fully guaranteed by CITIC Securities International Company Limited, a wholly-owned subsidiary of CITIC Securities.

The guarantee, approved by CITIC Securities' board and shareholders, is within the previously authorized scope for the company to issue debt financing instruments. The purpose of the issuance is to supplement the operating capital of the guarantor group. CSI MTN Limited, a special purpose vehicle, has not engaged in other business activities since its inception.

As of the announcement date, CITIC Securities and its controlled subsidiaries' total external guarantees amount to RMB 182.01 billion. This figure represents 62.10% of the company's most recently audited net assets. The company reported no overdue guarantees.