Zijin Mining plans $280mn bond issue to fund smelter project
HONG KONG: Zijin Mining Group Co Ltd said it plans a $280 million US dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit.
In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.
The net proceeds would be used to acquire copper concentrate overseas for the 200,000-tonne copper smelter project of subsidiary Zijin Copper Co Ltd and to fund other overseas activities, the company said.
Zijin Mining said earlier this month that it had appointed BOCI Asia Ltd as sole lead manager and book-runner for a proposed US dollar bond issue.
Copyright Reuters, 2011
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