Zijin Mining proposes public issuance of A share convertible bonds

Chicago, Oct. 24 – Zijin Mining Group Co., Ltd. is proposing a public issue of A share convertible corporate bonds in China for a total amount not to exceed RMB 10 billion, according to an announcement.

The proposed public issue is subject to the approval of shareholders at the extraordinary general meeting and the class meetings and the approval of the China Securities Regulatory Commission.

The bonds would be issued at par of RMB 100.

The convertible bonds would be listed on the Shanghai Stock Exchange.

The conversion period would run from six months after the first trading day until the maturity date. The notes would be callable, subject to a 125% hurdle.

The bonds could be sold back one per year if the share price for 30 consecutive trading days is lower than 65% of the prevailing conversion price.

Also in the announcement, there is the possibility of multiple connected transactions from related parties who may also subscribe for A share convertible bonds.

Proceeds would be used for acquisitions of mines and underground mining construction at a gold mine in Guyana.

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

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