Huayou Cobalt completes CNY 600m bond issuance

Zhejiang Huayou Cobalt (SSE:603799) announced the successful completion of its second phase ultra-short-term financing bonds for 2025, labeled as "science and innovation notes." The issuance, with the bond designation 25 华友钴业 SCP002, totaled CNY 600 million. The bonds have a maturity of 269 days and a par value of CNY 100, carrying an interest rate of 3.24%. The offering was underwritten by a syndicate led by China CITIC Bank, China Minsheng Bank, Ping An Bank, and China Zheshang Bank. The proceeds from the bond issuance will be used to repay the company's interest-bearing liabilities. The issuance was approved at the company’s sixth board meeting on April 18, 2024, and by the shareholders’ meeting on May 10, 2024.