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Shandong Gold to launch debt offering of up to 10B yuan to repay loans

Shandong Gold Mining Co. Ltd. said Aug. 13 that it plans to launch a short-term debt offering of up to 10 billion Chinese yuan.

It will use the proceeds to repay loans and for working capital. The company said the bonds' maturity will be set at no more than 270 days.

The issuance will be completed in several phases.

As of Aug. 13, US$1 was equivalent to 7.05 Chinese yuan.