GF Securities issues RMB 4.47 bn in corporate bonds

GF Securities has announced the issuance of corporate bonds (sixth tranche) in 2025 to professional investors, totaling up to RMB 4.47 billion. This issuance, approved by the China Securities Regulatory Commission (CSRC), is split into two tranches: "25 GF 11" (2-year term) and "25 GF 12" (5-year term), both with a face value of RMB 100 per bond. The funds raised, after deducting issuance expenses, are primarily for supplementing working capital.

According to China Chengxin International Credit Rating, GF Securities maintains an AAA issuer credit rating with a stable outlook, and the bonds themselves are also rated AAA. The company's recent financial performance indicates solid profitability, with net profits of RMB 8.89 billion, RMB 7.86 billion, RMB 10.54 billion, and RMB 7.00 billion over the past three and a half years, respectively. These figures are projected to cover the annual bond interest at least once, aligning with regulatory requirements.

The issuance will occur via book-building, with net interest rate inquiries for both tranches scheduled from 15:00 to 18:00 on November 6, 2025 (T-1 day). The subscription period is from November 7, 2025 (T day) to November 10, 2025 (T+1 day).