Guoyuan Securities to issue $209m in bonds

** Guoyuan Securities Co., Ltd. (SZSE:000728) announced plans to publicly offer corporate bonds to professional investors, aiming to raise up to RMB 1.5 billion ($209 million USD). The bonds, with a term of three years, will be issued in one tranche, beginning March 21, 2025, and offered at par value (RMB 100 per bond). The final coupon rate will be determined through an over-the-counter book-building process and is expected to fall between 1.50% and 2.50%. The company intends to use the proceeds to refinance maturing debt. Western Securities Co., Ltd. will act as the lead underwriter, bookrunner, and bond trustee for the issuance. Guoyuan Securities holds a AAA credit rating. The bonds are also expected to receive a AAA rating.