By Marisa Wong
Morgantown, W.Va., July 18 – Zijin Mining Group Co., Ltd. announced it issued RMB 3 billion of five-year bonds on Friday.
The company issued two types of bonds: RMB 1.8 billion of type 1 bonds with a coupon of 3.05% and RMB 1.2 billion of type 2 bonds with a coupon of 3.45%.
The coupons rates were talked at 2.8% to 4% and 3.2% to 4.4%, respectively.
The company had offered RMB 1.5 billion bonds with an up to RMB 1.5 billion over-allotment option. The type 1 bonds had a base issue size of RMB 1 billion, and the type 2 bonds had 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 was the lead underwriter and sole bookrunner. Industrial Securities was a joint underwriter.
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.
| Issuer: | Zijin Mining Group Co., Ltd.
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| Issue: | Corporate bonds, 2016 second tranche
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| Amount: | RMB 3 billion
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| Maturity: | Five years
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| Underwriters: | CICC (lead), Industrial Securities (joint)
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| Settlement date: | July 15
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| Type 1 bonds
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| Amount: | RMB 1.8 billion
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| Coupon: | 3.05%, adjustable at the end of the third year
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| Price talk: | 2.8%-4%
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| Put option: | At the end of the third year
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| Type 2 bonds
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| Amount: | RMB 1.2 billion
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| Coupon: | 3.45%
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| Price talk: | 3.2%-4.4%
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