China Minmetals sets talk for five-, 10-year dollar benchmark notes

By Christine Van Dusen

Atlanta, July 23 – China Minmetals Corp. set talk for a two-tranche offering of benchmark-sized and dollar-denominated notes due in five and 10 years (expected ratings: A3//BBB+), a market source said.

The five-year notes were talked at a spread in the Treasuries plus 215 basis points area. The 10-year notes were talked in the Treasuries plus 265 bps area.

Deutsche Bank, HSBC, JPMorgan, ICBC and Citigroup are the bookrunners for the Regulation S deal.

The proceeds will be used for general corporate purposes and for refinancing of debt.

The metals and minerals trading company is based in Beijing.

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