Metallurgical talks RMB 500 million bonds at 4.2%-5.2%, 4.4%-5.4%

By Marisa Wong

Morgantown, W.Va., May 4 – Metallurgical Corp. of China Ltd. said it will publicly issue corporate bonds with a base offering size of RMB 500 million and an up to RMB 930 million over-allotment option.

The bonds will be sold at par and will consist of two types: three-year bonds with a coupon of 4.2% to 5.2% and five-year bonds with a coupon of 4.4% to 5.4%.

The final coupon rates will be determined through a bookbuilding on May 4, and the bonds will be issued from May 7 to May 8.

China Merchants Securities Co., Ltd., BOC International (China) Ltd., Citic Securities Co., Ltd., Haitong Securities Co., Ltd. and GF Securities Co., Ltd. are the lead underwriters.

Proceeds will be used to repay bank borrowings.

This will be the company’s first tranche of corporate bonds for 2018.

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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