Guosen Securities sets 2.28% coupon for fifth perpetual bond tranche

Guosen Securities Co., Ltd. announced the coupon rate for its 2025 publicly offered perpetual subordinated bonds (fifth tranche) for professional investors has been set at 2.28%. This follows a book-building inquiry process conducted on November 13, 2025, with professional institutional investors. The inquiry range for the coupon rate was between 1.80% and 2.80%.

The bonds, with an issuance size not exceeding CNY 3 bn, have a repricing period of five years. At the end of each repricing period, Guosen Securities has the option to extend the bond term for another five years or fully redeem the bonds. This offering is part of a larger approval to issue perpetual subordinated bonds with a total face value not exceeding CNY 20 bn, as sanctioned by the China Securities Regulatory Commission.

The issuance to professional institutional investors will take place on November 14 and November 17, 2025, at the newly determined coupon rate. Details for subscription methods are available on the Shenzhen Stock Exchange website and Cninfo.