Western Securities to issue RMB 1bn in bonds

Western Securities Co., Ltd. (SZSE:002673) will offer RMB 1 billion (about $139 million USD) in corporate bonds to professional investors. The bonds, dubbed "25 Western 02", will be listed on the Shenzhen Stock Exchange (SZSE) with the code 524164. The bond has an initial par value of 100 yuan per bond and will be offered at par. Proceeds from the offering will be used to repay outstanding debts. The company and the bonds have received a AAA credit rating from United Credit Ratings. The lead underwriter is Guoyuan Securities. The interest rate will be determined by market inquiry within a range of 1.5%-2.5%. The bond is slated to begin accruing interest on March 11, 2025, and will mature in three years.