China Molybdenum eyes RMB 8 billion offering of corporate bonds

By Marisa Wong

Morgantown, W.Va., June 5 – China Molybdenum Co., Ltd. is proposing to issue up to RMB 8 billion of corporate bonds with a term of up to eight years.

Proceeds will be used to repay debt and to replenish capital.

Controlling shareholder Cathay Fortune Corp. submitted a proposal of the bonds on Monday.

The issuance is subject to shareholders’ approval at an upcoming meeting.

The molybdenum and tungsten producer is based in Luoyang, China.

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