China’s Zhaojin Mining considers up to RMB 8 billion of notes, bonds

By William Gullotti

Buffalo, N.Y., Jan. 16 – Zhaojin Mining Industry Co. Ltd. proposed offering up to a combined RMB 8 billion of renewable corporate bonds and medium-term notes, according to a circular.

The concurrent proposals, comprised of up to RMB 2 billion of renewable corporate bonds and up to RMB 6 billion of medium-term notes, require shareholder approval at the company’s extraordinary general meeting scheduled for Jan. 31.

The debt instruments will be issued publicly to institutional investors in China’s inter-bank market and priced via centralized bookbuilding within three years after receiving shareholder approval.

The proposed corporate bonds will be issued in one or more tranches with terms of no more than five years.

At the end of each term, the issuer will be entitled to renew the bonds for an additional term or repay and redeem them.

The proposed medium-term notes will be issued in one or more tranches with terms not to exceed seven years.

Proceeds derived from each proposed offering will be used to replenish liquidity, to repay borrowings and to pay project investment expenses.

The gold mining company is based in Zhaoyuan, 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.