BEIJING, November 17, 2025 /PRNewswire/ — Guotai Haitong Securities (Guotai Haitong) recently conducted a pleasant sale of 3.88 billion Hong Kong dollars (approximately 499 million US dollars) of 7-year zero-coupon exchangeable bonds by its Hong Kong subsidiary Guotai Junan Holdings Ltd.
The bonds, rated BBB+ by Standard & Poor’s and convertible into ordinary H shares of another Guotai Haitong subsidiary in Hong Kong, Guotai Junan International Holdings Ltd. (01788.HK), are irrevocably guaranteed by the issuer’s parent company, Guotai Junan Financial Holdings Ltd., also a wholly owned subsidiary of Guotai Haitong.
Confident in the Chinese assets and long-term prospects of Guotai Haitong and its subsidiaries, institutional investors, including long-term funds and hedge funds from the Asia-Pacific region, Europe and the Americas, actively participated in the subscription.
As these exchangeable bonds are redeemable at prices in the third and fifth years from their value date, they have been issued at prices as high as 103.5 percent of their face value or at yields as low as -0.49 percent.
Currently, as US dollar-denominated financing costs continue to rise, zero coupon bonds are useful in optimizing the company’s financing costs, with the proceeds being used for refinancing maturing foreign debts.
After Guotai Junan Financial Holdings Ltd. obtained the BBB+ long-term issuer rating in August this year, the offering, its public debut in the international capital market, marked a further enrichment of the overseas financing vehicles of the company and Guotai Haitong.
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SOURCE Xinhua Silk Road
