Summary by Futu AI
Zijin Mining Group Co., Ltd. ("Zijin Mining") announced on June 25, 2024, an unconditional and irrevocable guarantee of USD 200 million convertible corporate bonds for its wholly-owned subsidiary Jin Ji Capital Co., Ltd. ("Jin Ji Capital"). The bonds were issued on the same day with an annual interest rate of 1.0% and will mature on June 25, 2029. Jin Ji Capital is registered in Hong Kong and mainly engaged in Zijin Mining's overseas financing and fund management business, and all of its shares are held by Jinshan (Hong Kong) International Mining Co., Ltd. Zijin Mining stated that the guarantee arrangement was approved at its annual shareholders' meeting on May 17, 2024, and the company currently has no overdue external guarantees. As of the announcement date, Zijin Mining's total external guarantees accounted for 33.42% of its 2023 audited attributable net assets.