Reuters reported that Zijin Mining Group Company Limited plans USD 280 million denominated bond issue raising capital to acquire copper concentrate overseas for a smelter project of its unit.

Zijin Mining said that the bonds would have maturity of 5 years and a fixed interest rate of 4.25% per year during its term with interest payable semi annually.

The company said that the net proceeds would be used to acquire copper concentrate overseas for the 200,000-tonne copper smelter project of subsidiary Zijin Copper Company Limited and to fund other overseas activities.

It said earlier this month that it had appointed BOCI Asia Limited as sole lead manager and bookrunner for a proposed US dollar bond issue.

(Sourced from Reuters)