Xiamen Tungsten taps debt market again with $74.9M sci-tech bond

What's the deal? Xiamen Tungsten has raised US$68.8M through a three-year science-and-technology innovation bond at a 1.65% coupon. The company is a Shanghai-listed tungsten producer.

Why now? The issue follows a separate US$68.8M, 270-day bond the company placed in August, making this its second trip to the debt market in short order. The longer, three-year tenor locks in low-cost funding over an extended window.

What's the endgame? The bond is earmarked for technology-related activity, though the available reports do not specify how proceeds will be used.

The signal: The raise is modest in scale; its significance lies in the company's repeated access to cheap debt capital. At a 1.65% coupon, Xiamen Tungsten can borrow more cheaply than many peers — a reminder that credit remains open to China's industrial names.

Read more: in.marketscreener.com

Image credit: Generated with Gemini