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Zijin launches up to 4.5B yuan debt offering

Zijin Mining Group Co. Ltd. on Oct. 12 said it will issue up to 4.5 billion Chinese yuan in debt Oct. 16 to increase its cash flow.

The offering was set at an initial 1.5 billion yuan, and the company can exercise an overallotment option of up to 3 billion yuan.

The maturity of the bonds will be three years, renewable for additional three-year periods, with an interest rate between 4.3% and 5.8%.

As of Oct. 11, US$1 was equivalent to 6.89 Chinese yuan.