China’s Zhaojin Mining plans up to RMB 7.6 billion, $300 million debt

By Marisa Wong

Morgantown, W.Va., March 5 – Zhaojin Mining Industry Co. Ltd. is proposing to issue up to RMB 2 billion of corporate bonds and up to RMB 5.6 billion of medium-term notes in China, according to a company announcement.

The company is also seeking to issue up to $300 million of bonds outside of China.

The securities will be issued in one or more tranches with terms of up to 10 years.

Proceeds will be used to replace current debt, to replenish liquidity, to repay borrowings and for general corporate purposes.

The proposed issuances are subject to shareholders’ approval at an upcoming meeting as well as regulatory approval.

The gold mining company is based in Zhaoyuan, China.

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