ZIJIN MINING Allegedly Aims to Issue Zero-Coupon Convertible Bonds to Raise USD1.5 Billion
Bond Issuance: Zijin Mining plans to issue zero-coupon convertible bonds maturing in 2031 to raise $1.5 billion, with UBS and CLSA as joint bookrunners.
Use of Funds: The raised funds will be allocated for capital expenditure on the La Arena project in Peru, working capital, and other general corporate purposes.
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ZIJIN MINING Launches USD1.5 Billion Convertible Bonds
Bond Issuance Announcement: ZIJIN MINING announced the issuance of USD1.5 billion zero coupon guaranteed convertible bonds due 2031, with an initial conversion price of HKD63.3 per share, representing a 37.19% premium over the previous day's closing price.
Use of Proceeds: The net proceeds of approximately USD1.527 billion will be used for capital expenditures related to the La Arena Project in Peru, as well as for working capital and other corporate purposes.
Conversion Shares: The bonds can be fully converted into about 185 million H shares, which accounts for approximately 2.99% of the issued H Shares and 0.69% of the enlarged total shares post-conversion.
Stock Exchange Listings: ZIJIN MINING plans to apply for the listing of the bonds on the Vienna MTF and for the conversion shares on the Hong Kong Stock Exchange.
ZIJIN MINING Allegedly Aims to Issue Zero-Coupon Convertible Bonds to Raise USD1.5 Billion
Bond Issuance: Zijin Mining plans to issue zero-coupon convertible bonds maturing in 2031 to raise $1.5 billion, with UBS and CLSA as joint bookrunners.
Use of Funds: The raised funds will be allocated for capital expenditure on the La Arena project in Peru, working capital, and other general corporate purposes.
