China’s Zhaojin Mining plans up to RMB 4 billion renewable bonds

By Marisa Wong

Morgantown, W.Va., June 29 – Zhaojin Mining Industry Co. Ltd. is proposing to issue up to RMB 4 billion of renewable corporate bonds in China, according to a company announcement.

The bonds will be issued in one or more tranches with an initial term of five years. At the end of the five-year term, the issuer may renew the bonds for another five years.

Proceeds will be used to replenish liquidity, to repay borrowings and to pay project investment expenses.

The proposed issuance is subject to shareholders’ approval at an upcoming meeting as well as regulatory approval.

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.