Yunnan Tin bondholders approve share buyback plan

Yunnan Tin Company Limited announced that bondholders approved proposals not to demand early debt repayment or additional guarantees as the company plans to repurchase and cancel A-shares using its own funds.

The share buyback will reduce capital by less than 10% of net assets reported at the time of bond issuance. Bondholders of both tranches of the company's 2024 technology innovation renewable corporate bonds voted in favor, with 86.5% approval for Tranche 1 and 92% for Tranche 2.

Both bond series have CNY 1 billion issuance sizes, with Tranche 1 carrying a 2-year term and 3.5% initial coupon, while Tranche 2 has a 3-year term with 2.78% coupon.