China Galaxy Securities completes second tranche of 2025 bond issuance

China Galaxy Securities announced the completion of its 2025 non-public corporate bond issuance (second tranche) to professional investors on October 16, 2025. The issuance, with a total registered size not exceeding RMB200 bn, successfully raised RMB20 bn across two bond varieties, each priced at RMB100 per bond.

Bond variety one, with a 13-month term, achieved an issuance size of RMB10 bn at a coupon rate of 1.84% and an oversubscription ratio of 1.91 times. Bond variety two, with a 25-month term, also raised RMB10 bn at a coupon rate of 2.05% and an oversubscription ratio of 2.64 times.

Related parties of the underwriters participated in the offering. Guosen Securities' affiliate, Southern Asset Management Co., Ltd., subscribed to RMB0.5 bn of bond variety two. CITIC Securities' affiliates, including CITIC Bank Co., Ltd., CITIC Trust Co., Ltd., and China Securities Co., Ltd., subscribed to RMB1 bn, RMB3 bn, and RMB1.3 bn of bond variety two, respectively. Shenwan Hongyuan Securities' affiliate, Fullgoal Fund Management Co., Ltd., subscribed to RMB0.4 bn of bond variety one and RMB1.7 bn of bond variety two. The company confirmed that no directors, supervisors, senior management, or shareholders with over 5% stake participated.