China Molybdenum registers to sell RMB 2 billion of five-year notes

By Marisa Wong

Madison, Wis., June 20 - China Molybdenum Co., Ltd. has registered to issue RMB 2 billion of medium-term notes with China's National Association of Financial Market Institutional Investors. The company said it received a notice of acceptance of registration from the association on Tuesday.

The notes, which will have a maturity of five years, will be marketed through a book-build.

The company said it will publish offering documents for the notes on June 28.

The company first announced plans to issue up to RMB 4 billion of debt financing instruments in August 2010. The proposed issuance was then approved by shareholders at a meeting in October 2010.

Proceeds from the new notes will be used to replenish working capital and repay outstanding bank loans.

China Molybdenum is a Luoyang, China, molybdenum and tungsten producer.

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