Zijin Mining sets coupon for upcoming renewable bonds at 5.17%

By Marisa Wong

Morgantown, W.Va., Sept. 12 – China’s Zijin Mining Group Co., Ltd. announced that the coupon rate for its upcoming tranche of renewable corporate bonds has been set at 5.17%.

The coupon, talked at 4.8% to 5.8%, was set on Monday using offline coupon rate quotations.

The company previously obtained regulatory approval to issue up to RMB 5 billion of renewable corporate bonds. The first tranche, expected to total RMB 500 million, will have an initial term of three years. At the end of the three-year base period and at the end of each renewal period, the company will have the option to renew the bonds for up to three years.

The first tranche will be issued on Tuesday and Wednesday.

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

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