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Changjiang Securities Proposes Issuance of 4 Billion Yuan Bonds; Shares Down 3%

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Changjiang Securities (SHE:000783) proposed to issue bonds worth 4 billion yuan, according to a Shenzhen bourse filing on Friday.

The fixed-coupon bonds will be issued in two tranches, with the first tranche having a three-year term and a redemption date of July 1, 2029. The second tranche will have a five-year term, with a redemption date of July 1, 2031.

CSC Financial (SHA:601066, HKG:6066), Huatai United Securities, and Changjiang Securities Underwriting & Sponsorship will serve as joint underwriters of the issuance.

The proceeds from the bond will be used to pay debt.

The Chinese financial services provider's shares dropped 3% during the midday trade.

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