China Nonferrous Metal Mining starts issuing RMB 1 bln bonds

China Nonferrous Metal Mining (Group) Co Ltd, a large-sized state-owned enterprise under direct leadership of the State-owned Assets Supervision and Administration Commission (SASAC), started issuing RMB 1 billion fixed-rate corporate bonds with a maturity of ten years on the interbank market on Nov.27 to Dec. 3.

The company said in a statement that the proceeds from the issuance will be used to fund projects and supplement working capital.

China Chengxin International Credit Rating Co has rated the issuer and the bonds AA+ and AA+ respectively.

Guotai Junan Securities Co has been assigned as major underwriter for the sale.

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