China’s GF Securities plans RMB 200 billion onshore, offshore debt

By Marisa Wong

Madison, Wis., June 5 – GF Securities Co., Ltd. is planning to issue up to RMB 200 billion of corporate onshore and offshore debt financing instruments, according to a notice.

The company may issue the debt financing instruments on a one-off or multiple-tranche basis, with the amount of foreign currency-denominated instruments capped at RMB 20 billion.

The debt financing instruments will have maturities of 15 years or less, but the company may also issue perpetual bonds.

Proceeds will be used to meet business operation needs, adjust the company’s debt structure, replenish working capital or invest in projects.

The company’s board of directors approved the proposed issuance at its meeting held on Friday.

The investment bank and securities brokerage is based in Guangzhou, China.

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