GF Securities plans $450m bond offering

GF Securities Co., Ltd. announced plans to issue up to RMB 3.3 billion (approximately $450 million USD) in corporate bonds in a second phase offering to qualified professional investors. The bonds are divided into two tranches with codes 524149 and 524150, with a fixed interest rate to be determined through an on-line bookbuilding process scheduled for February 25, 2025. The first tranche will mature in three years, and the second tranche will mature in five. The company has indicated the funds raised, after deducting issuance costs, will be used to repay maturing debt obligations. Lead underwriters for the offering are Orient Securities and Bank of China International Securities. The bonds have been rated AAA by China Credit Rating Co., Ltd.