China’s Zijin offers RMB 1.5 billion 2.99%, 3.37% five-year bonds

By Marisa Wong

Morgantown, W.Va., March 18 – Zijin Mining Group Co., Ltd. announced it will offer RMB 1.5 billion of five-year bonds with over-allotment up to RMB 3.5 billion.

The bonds will be divided into two types. Type 1 bonds will have a put option at the end of the third year, at which point the issuer may also adjust the coupon rate.

The coupon will be 2.99% for the type 1 bonds and 3.37% for the type 2 bonds.

This will be the company’s first tranche of corporate bonds for 2016. The company previously obtained approval from the China Securities Regulatory Commission to issue up to RMB 8 billion of corporate bonds.

The first-tranche bonds are being issued offline on Friday and Monday.

The state-owned gold and copper mining group is based in Xiamen, China.

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