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Zhaojin Mining plans short-term debt issue of up to 8B Chinese yuan

Zhaojin Mining Industry Co. Ltd. intends to issue short-term bonds in China of up to 8.0 billion Chinese yuan.

The funds will mainly be used for production and operations of the company, including replenishing liquidity and repaying borrowings.

The bonds will have a term of up to 270 days and will target institutional investors in China interbank bond markets.

The interest rate on the bonds will be determined by way of book building of the members of the underwriting team.

As of Aug. 1, US$1 was equivalent to 6.72 Chinese yuan.