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China’s Metallurgical calls RMB 10 billion 3.95% notes due 2020
By Marisa Wong
Morgantown, W.Va., Aug. 20 – Metallurgical Corp. of China Ltd. said it will redeem its RMB 10 billion of 3.95% notes due 2020 on Sept. 20.
The company issued the 10-year notes in 2010 with a call option at the end of the fifth year.
If the notes had not been called, the coupon would have stepped up by 114 basis points for the remainder of the term of the notes.
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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