On November 26, China Minmetals Corporation signed a US$ 6 million overseas syndicated loan agreement with 12 foreign banks. Chairman Zhou Zhongshu attended and addressed the signing ceremony, and Chief Accountant Shen Ling signed the legal instruments relating to the loan on behalf of China Minmetals Corporation.
The total amount of the loan is US$ 6 million, composed of 1-year term, 2-year term and 3-year term. The total cost of the loan is superior to other overseas syndicated loans over the same period. The borrower is Minmetals Capital (Hong Kong) Ltd., and the loan is secured by China Minmetals Corporation.
This is the third overseas syndicated loan independently arranged by China Minmetals Corporation since 2011. It has been enthusiastically responded in the international financial market, with 1.8 times of the amount subscribed. 12 foreign banks from different regions (ANZ, BBVA, Bank of Tokyo-Mitsubishi UFJ (BTMU), Commonwealth Bank of Australia, Societe Generale, Westpac Bank, Bank of America Merrill Lynch, Commerzbank AG, Hang Seng Bank, ING Bank, National Bank of Abu Dhabi and Royal Bank of Scotland) were involved. This agreement has been a result of enhanced cooperation between China Minmetals and international financial institutions. It has also demonstrated a good reputation of China Minmetals in the international capital market.
In his speech, Chairman Zhou first extended his welcome and gratitude to the guests of international banks present at the conference, and spoke highly of the concerted efforts in signing the agreement. He stressed that in a short period of time of three months from the preparations to the signing of the agreement, all parties worked hard on the principle of honesty and trustworthiness, equality and reciprocity, common development, mutual respect and concerted efforts. This reflects that the development concepts and strategies of China Minmetals are being understood, accepted and supported by an increasing number of international financial institutions.
On behalf of the agent bank, Yan Shufen, General Manager of Greater China Office of BTMU, delivered a speech. In her speech, she said that full of confidence in the future development of China Minmetals, all the 12 banks are willing to further support China Minmetals in its business innovation and expansion of overseas markets.
Ma Jun, Yu Bo, You Yong, Wang Wenhai, Chen Xingwu, Chai Shan, and Bi Liyan and other executives of the functional departments and business centers of China Minmetals were present at the signing ceremony.
