Zijin Mining A share convertibles may soon become callable

By Marisa Wong

Los Angeles, May 24 – Zijin Mining Group Co., Ltd. announced that the conditions for redemption of its A share convertible bonds may be satisfied soon.

The convertible bonds are callable if the company’s A shares close at or above 130% of the conversion price for at least 15 trading days out of any 30 consecutive trading days or if the total par value of the outstanding convertibles is lower than RMB 30 million.

The company said the closing prices of its A shares had been no less than 130% of the conversion price for 10 consecutive trading days. If the A shares clear the 130% hurdle for another five trading days out of the next 20 trading days, the call option on the bonds will be triggered.

The conversion price is RMB 7.00 per A share, adjusted from RMB 7.01 per share in February.

If the conditions are satisfied, the bonds would be callable at par plus accrued interest.

Zijin Mining is a Xiamen, China-based multinational mining company.

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