Guosen Securities' latest perpetual bond tranche oversubscribed 3.15 times

Guosen Securities Co., Ltd. has successfully issued the fifth tranche of its 2025 publicly offered perpetual subordinated bonds for professional investors. The offering, initially approved for up to CNY 3 billion, concluded with a final issuance size of CNY 600 million, priced at CNY 100 per bond with a coupon rate of 2.28%. The offering was significantly oversubscribed, achieving an all-venue subscription ratio of 3.15 times. The bonds are identified as "25 Guozheng Y5" with code 524538.

The issuance took place from November 14 to November 17, 2025. Southern Asset Management Co., Ltd., an affiliate of the issuer, subscribed to CNY 60 million of the bonds. The offering confirmed that the issuer’s directors, senior management, shareholders with over 5% stake, and other affiliates did not participate in the subscription, nor did the underwriters or their affiliates.

The proceeds from this bond issuance will be utilized entirely to repay Guosen Securities' interest-bearing debts. All investors met the relevant qualification requirements as per regulatory guidelines for corporate bond issuance and trading.