Shenwan Hongyuan plans $250m bond issue for debt repayment

** Shenwan Hongyuan Group Co., Ltd. (SZSE:000166) is set to issue up to 1.8 billion RMB in corporate bonds aimed at professional investors, according to a newly released prospectus. The bond issuance, approved by the China Securities Regulatory Commission (CSRC), will be divided into two tranches with maturities of 2 and 3 years. Proceeds from the offering will be used to repay outstanding debts. United Credit Ratings has assigned a AAA rating to both the company and the proposed bonds, indicating a very low risk of default. Shenwan Hongyuan Securities will act as the lead underwriter for the offering, with Chasing Securities as co-lead underwriter. As of September 30, 2024, Shenwan Hongyuan Group had net assets of 1315.41 billion RMB.