Shandong Gold Mining eyes up to RMB 10 billion corporate bonds

By William Gullotti

Buffalo, N.Y., Aug. 23 – Shandong Gold Mining Co., Ltd.’s board of directors is seeking shareholder approval to offer up to RMB 10 billion of corporate bonds on the Shanghai Stock Exchange, according to a company announcement on Wednesday.

The proposed bonds may be issued in one or more tranches as general corporate bonds, renewable bonds, green corporate bonds or other bonds within two years of shareholder approval.

With the exception of renewable corporate bonds, which will have a maximum base tenor of 10 years, the proposed bonds may have terms of up to 25 years.

If approved, the bonds will be priced and sold at their RMB 100 par value.

Proceeds are intended to be used to repay interest-bearing debt, for replenishing working capital, for project construction and operation and for other general corporate purposes.

The proposed issuance will be presented for consideration at the company’s upcoming fifth extraordinary general meeting for 2023.

Based in Jinan, China, Shandong Gold Mining’s business is in the smelting of gold and silver ores. The company is a subsidiary of Shandong Gold Group Co., Ltd.

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