China's Jiangxi Copper issues convertible bonds

China's top copper producer (0358.HK) said its bonds would bear an annual coupon between 1 and 2 percent, to be decided by the issuer and lead underwriter, in line with the demand from subscriptions, it said in a statement published in the official Shanghai Securities News on Monday.

Large purchasers of the 1,000 yuan bonds would be given 259 warrants that would allow them to buy Jiangxi Copper's local-currency A shares at 15.44 yuan per share two years later at a ratio of four warrants for one share, it said.

Jiangxi Copper's A shares closed at 15.05 yuan on Friday.

The company's existing A-share holders would be given priority to buy up to 60 percent of the bonds, with the rest being sold to other domestic retail and institutional investors. ($1=6.834 Yuan)

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