China Gold International Resources has entered into a subscription agreement for the issue of corporate bonds valued at US$500 million. Net proceeds will be used for repaying existing indebtedness, working capital and general corporate purposes of the company, which has mining operations in China.

The company and its wholly-owned subsidiary Skyland Mining (BVI) Limited last month entered the agreement with joint lead managers who will subscribe for the bonds at an issue price of 99.663% bearing interest at the rate of 3.25% with a maturity date of July 6, 2020. The company will unconditionally and irrevocably guarantee the bonds.

The joint lead managers are China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Limited, CCB International Capital Limited, Industrial Bank Co Ltd Hong Kong Branch and Standard Chartered Bank.

China Gold International's CEO Bing Liu said, “This is the second time our company has successfully managed a bond offering in the international capital markets thus allowing us to demonstrate that we can take advantage of a diversified, global, financing capability putting us in position to more aggressively pursue our global growth through acquisitions and organic development strategy.”

China Gold International is based in Vancouver, Canada and operates profitable and growing mines - the CSH Gold Mine in Inner Mongolia and Jiama Copper-Gold Polymetallic Mine in Tibet Autonomous Region.

www.chinagoldintl.com

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