China's Zhongjin Gold to issue 600 million yuan in bills

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Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is May 4 and the to-be-issued bills tradable on May 7.

BEIJING(BullionStreet): China's largest publicly-traded gold miner by market share, Zhongjin Gold announced plans to issue 600 million yaun worth of 365-day unsecured bills on the interbank market on May 3, sources reported.

Coupon rate will be determined in the process of book-building and the bills be issued at face value. Both value date and payment due date is May 4 and the to-be-issued bills tradable on May 7.

China Lianhe Credit Rating Co Ltd has rated the issuer AAA and A-1, respectively.

Bank of Communications has been hired as book-runner and lead underwriter for the offering, and Huaxia Bank Co Ltdwill be joint lead underwriter.

Zhongjin Gold has reported a net profit of 412 million yaun for the first quarter, 24.67% more than in the same period of last year. The company's operating revenue surged 52.31% year on year to 6.44 billion yaun in the period.