China Molybdenum proposes up to RMB 5.8 billion debt instruments

By Marisa Wong

Madison, Wis., April 22 - China Molybdenum Co., Ltd. is proposing a mandate to issue up to RMB 2.9 billion of domestic debt financing instruments and up to RMB 2.9 billion of overseas debt financing instruments in one or more tranches.

The company said that the debt financing instruments would give it flexibility to raise capital to finance future investments and business development.

The proposal is subject to shareholders' approval at an upcoming general meeting.

The Luoyang, China-based molybdenum and tungsten producer said it has no immediate plans to issue debt instruments.

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