Jiangxi Copper Plans $3.6 Billion Bond Sales to Fund Expansion

Jiangxi Copper Co., a leading Chinese smelter, said it planned to issue up to 25 billion yuan ($3.6 billion) of bonds that could fund an expansion of mining after prices rallied to a record.

The company will issue up to 15 billion yuan of medium-term notes, as well as 10 billion yuan in super short-term commercial paper, it said in an exchange filing. Proceeds will be used to repay debt, supplement working capital, or fund merger-and-acquisition activity, it said.