智通财经网·2025-10-13 14:07Core Viewpoint - China Galaxy Securities Co., Ltd. has completed the issuance of its 2020 perpetual subordinated bonds (Phase 1), referred to as "20 Galaxy Y1" [1] Group 1: Issuance Details - The issuance of 20 Galaxy Y1 was completed on November 24, 2020 [1] - The bond has a repricing cycle of 5 years, with the issuer having the option to extend the bond for an additional cycle or redeem it in full at the end of each repricing period [1] Group 2: Redemption and Extension Options - The bond includes an issuer extension option, allowing the issuer to extend the bond for one repricing cycle at the end of each cycle [1] - The issuer also has a redemption right, allowing it to redeem the bond at face value plus accrued interest on the fifth interest payment date and thereafter [1] Group 3: Future Plans - On November 24, 2025, which marks the end of the first repricing period, the company plans to exercise its redemption right and fully redeem the 20 Galaxy Y1 [1]