Metallurgical Corp. of China plans RMB 11.9 billion one-year bonds

By Marisa Wong

Madison, Wis., May 12 - Metallurgical Corp. of China Ltd. is proposing to issue up to RMB 11.9 billion of short-term financing bills in 2014, according to a company announcement.

Each tranche, which will not exceed RMB 5 billion, will be priced at par with a maturity of one year.

The company said it is also planning to issue RMB 12 billion of extra-short-term financing bills.

The proposed bond issuance is subject to shareholders' approval at an upcoming meeting.

The Beijing-based company operates in engineering, procurement and construction for metallurgical facilities, natural resources exploration, equipment fabrication and property development.

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