Following the approval of the issue of RMB 15 billion corporate bonds of China Minmetals Corporation Limited by the China Securities Regulatory Commission on September 8, the book building for the first batch worth RMB 4 billion was kicked off on September 18, the issue was completed and the funds were raised in full on September 23. Among them, the 5-year bonds worth RMB 2 billion (issue code: “751970”) were issued at an interest rate of 3.88% and with a subscription ratio of 3.25 times; the 10-year bonds worth RMB 2 billion (issue code: “122469”) were issued at an interest rate of 4.75% and with a subscription ratio of 1.58 times. This is the first time for China Minmetals Corporation Limited to enter the domestic capital market after the overall restructuring of China Minmetals Corporation (“Minmetals”). It is also the first time for a non-listed company of a central enterprise to issue corporate bonds. The interest rate is the lowest coupon rate of domestic debt financing instruments of Minmetals over the past five years, and it is also the lowest interest rate of corporate bonds of the same rating and in the same category in the bond market for the past five years.

The successful issuance of the corporate bonds will help Minmetals optimize its debt structure, reduce financing costs, and provide a strong guarantee for its business strategy of “Cash is King”.