Great Wall Securities announces bond issuance to raise up to 50 bn yuan

China Great Wall Securities Co., Ltd. has launched the second tranche of its 2025 public offering of subordinated corporate bonds to professional investors, with a total registered amount of up to 50 billion yuan. This tranche consists of two varieties: "25 Great Wall C3" with a two-year term and "25 Great Wall C4" with a three-year term, each for up to 20 billion yuan. The bonds are uncollateralized and have received credit ratings of AAA for the issuer and AA+ for the bonds from United Credit Ratings Co., Ltd., with a stable outlook.

The offering includes an inquiry period from 15:00 to 18:00 on November 5, 2025, with final coupon rates determined based on market conditions. The issue dates are scheduled for November 6–7, 2025. Funds raised from this issuance will be primarily used to replace existing interest-bearing debts, with a portion allocated to replenishing working capital. The company emphasizes its strong financial standing, robust risk management, and strategic focus on "integrated finance" to support sustainable growth.