Guotai Haitong Securities (SHA:601211, HKG:2611) indirect subsidiary Guotai Junan Holdings issued $120 million in medium-term debts on Tuesday, according to a Thursday filing with the Shanghai bourse.

The issuance is part of a $3 billion medium-term debt program launched April 12, 2021, with Guotai Haitong as guarantor, the filing said.

Following the $3 billion issuance, the total principal amount issued reached $1.675 billion, while $1.731 billion remains outstanding, including the present issuance, the filing said.

Shares in Guotai Haitong plunged 5% in Hong Kong and slipped 3% in Shanghai during morning trading on Thursday.