Haitong Securities launches $1.97bn bond

China's largest securities house by net profit pushes ahead with the issue amid tough market conditions and under increasing pressure from shareholders.

Haitong Securities launches $1.97bn bond

Haitong Securities, China’s largest securities house by net profit, will start bookbuilding for a bond issue on Friday, aiming to raise Rmb12 billion US$1.97 billion.

The notes comprise of three tranches a Rmb7 billion 3-year bond, a Rmb2 billion 5-year and a Rmb3 billion 10-year. The guidance was set at 5.75%-6.15%, 5.77%-6.17% and 5.8%-6.2%, respectively.

The sizes of the three tranches are tentative and can be clawed back. Each tranche...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: china | bond | haitong

Print Edition

FinanceAsia Print Edition