China's Lingbao Gold plans up to RMB 700 million five-year MTNs

By Marisa Wong

Madison, Wis., Oct. 20 - Lingbao Gold Co. Ltd. said it plans to issue up to RMB 700 million of five-year medium-term notes.

The company's board of directors said it believes the issuance will reduce the company's reliance on short-term borrowings and provide the company with a further source of funding at a lower interest rate than that of commercial bank loans.

Proceeds from the issuance will be used as working capital and for replacement of the company's existing loans.

The notes issuance is subject to shareholder approval.

Lingbao is a gold mining company based in Lingbao, China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.