CITIC Securities granted approval to sell 50bn yuan of bonds
Sale must begin within a year and debt to be sold in instalments
by Chris Gill
(ATF) CITIC Securities has received approval to sell as much as 50 billion yuan ($7bn) of corporate bonds to professional investors.
The company’s bonds will be issued in instalments beginning within 12 months of the date of approval of registration, the regulator said. The remaining issuance of bonds can be completed within 24 months from the date of approval.