By Marisa Wong
Madison, Wis., Aug. 3 - China Molybdenum Co., Ltd. said it sold RMB 2 billion of medium-term notes on Aug. 2. The deal settled on Friday.
The notes were priced at par with a coupon of 4.94%. They mature on Aug. 3, 2017.
Bank of China Ltd. and Industrial and Commercial Bank of China Ltd. were the lead underwriters.
This is China Molybdenum's first tranche of medium-term notes for 2012.
As previously reported, the company announced on June 28 that it planned to issue RMB 2 billion of medium-term notes on July 5. On July 3 the company said it decided to postpone the deal due to market volatility. On July 25 the company issued a notice that it would publish offering documents on July 26 for the proposed offering.
The company initially announced plans to issue up to RMB 4 billion of debt financing instruments in August 2010. The debt instruments were then approved by shareholders at a meeting in October 2010. Recently, the company registered to issue RMB 2 billion of five-year notes with China's National Association of Financial Market Institutional Investors.
As noted before, proceeds from the offering will be used to replenish working capital and to repay outstanding bank loans.
China Molybdenum is a Luoyang, China, molybdenum and tungsten producer.
| Issuer: | China Molybdenum Co., Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | RMB 2 billion
|
| Maturity: | Aug. 3, 2017
|
| Coupon: | 4.94%
|
| Price: | Par
|
| Yield: | 4.94%
|
| Underwriters: | Bank of China Ltd. and Industrial and Commercial Bank of China Ltd.
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
