CMOC Group (SHA:603993, HKG:3993) subsidiary CMOC Capital on Monday issued $1.2 billion in zero-coupon, secured convertible bonds due 2027, according to a Monday bourse filing.

Net proceeds will be used for overseas resource project expansion, trade working capital, and general corporate use.

The bonds have an initial conversion price of HK$28.03 per share.

Shares of the copper and cobalt producer declined 1% in recent trade on the Shanghai bourse and rose 1% on the Hong Kong bourse.