Zhongfu Industry Co. Ltd. successfully completes bond issue with 99.16% of the approved amount subscribed
Tue, 09/06/2011
- RMB 1,487 million (USD 233 million) subscribed
- 8-year, 7.3% interest bond issue in Shanghai
Amsterdam, 6 September 2011 – On August 31, 2011 Zhongfu Industry Co. Ltd. (SHA:600595) (‘The Company’), the largest Chinese subsidiary of Vimetco NV (LSE:VICO), successfully completed an RMB 1,487 million (USD 233 million) 8-year 7.3% bond issue.
The offer was performed using online public offering for public investors and offline inquiry and allocation for institutional investors. The interest rate was established at 7.3%.
The default amount of online bond issuance stands for 10% of the issued bonds, representing RMB 150,000,000. The final actual amount of bonds issued online was RMB 12,568,000, standing for 0.84% of the overall issued bonds.
The default amount of offline bond issuance stands for 90% of the issued bonds, representing RMB 1,350,000,000. As the online subscription was insufficient, the difference of RMB 137,432,000 from the online issuance was pulled-back to the offline issuance, and the final actual amount of bonds issued offline was RMB 1,487,432,000, standing for 99.16% of the overall issued bonds.
The issue is part of the strategy implemented by Zhongfu Industry Co. Ltd. to extend the debt maturity profile and strengthen the financial capability of the Company. The proceedings from the issue will be used for repayment of short-term borrowings of the Company.
Zhongfu Industry Co. Ltd. is listed on the Shanghai Stock Exchange (SHA:600595). Vimetco N.V. is listed on the London Stock Exchange (LSE:VICO) and indirectly holds 96.78% of Henan Yulian Energy Group Co., Ltd., which is the majority shareholder of the Company.
For further information please contact:
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Florenta Ghita Premium Communication Bucharest |
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About Vimetco
Vimetco is a global, vertically integrated producer of primary and processed aluminium products with major production assets in Romania, Sierra Leone and China, and a holding company in The Netherlands. Vimetco controls an aluminium production capacity of 1.1 million tonnes pa. Vimetco’s global depositary receipts are listed on the London Stock Exchange (LSE:VICO). www.vimetco.com
