China’s Zijin Mining sets coupons for five-year bonds at 3.05%, 3.45%

By Marisa Wong

Morgantown, W.Va., July 14 – Zijin Mining Group Co., Ltd. announced it determined the coupon rates for its upcoming five-year bonds.

The bonds will consist of two types: type 1 bonds with a coupon of 3.05% and type 2 bonds with a coupon of 3.45%.

The coupon rates were talked at 2.8% to 4% and 3.2% to 4.4%, respectively.

The company is offering RMB 1.5 billion bonds with an up to RMB 1.5 billion over-allotment option. The type 1 bonds have a base issue size of RMB 1 billion, and the type 2 bonds have a base issue size of RMB 500 million.

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.

CICC is the lead underwriter and sole bookrunner. Industrial Securities is a joint underwriter.

The bonds will be issued on Thursday and Friday.

This is the company’s second 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, totaling RMB 5 billion, was issued in March.

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