By Marisa Wong
Morgantown, W.Va., Sept. 14 – China’s Zijin Mining Group Co., Ltd. announced it issued RMB 500 million of 5.17% renewable corporate bonds on Wednesday.
The bonds 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 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. This is the company’s first tranche.
The state-owned gold and copper mining group is based in Xiamen, China.
| Issuer: | Zijin Mining Group Co., Ltd.
|
| Issue: | Renewable corporate bonds, first tranche
|
| Amount: | RMB 500 million
|
| Maturity: | Three years; renewable for up to three years at end of three-year base period and at end of each renewal period
|
| Coupon: | 5.17%
|
| Settlement date: | Sept. 13
|
| Price talk: | 4.8%-5.8%
|
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