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Shandong Gold to launch 1B yuan green bond offering

Shandong Gold Mining Co. Ltd. intends to launch a green bond offering to raise up to 1 billion Chinese yuan for operational capital related to a gold concentrate recycling project and a green mine project in eastern China.

The interest rate will be set between 4.8% and 5.3% and the maturity will be less than five years, the company said Aug. 8.

The debt offering is proposed to be listed on the Shanghai Stock Exchange. An extraordinary general meeting is scheduled for Aug. 13 to seek shareholder approval for the issuance.

Shandong Gold noted lead concentrates and copper concentrates as byproducts of its recycling project. The green mine project will include the Laizhou, Sanshandao, Jinzhou and Jiaojia assets.

As of Aug. 7, US$1 was equivalent to 6.83 Chinese yuan.