BUZZ-HK-listed MMG hits 18-year peak on bonds plan to repay debt ** Shares of MMG Ltd 1208.HK jump as much as 9.1% to HK$6.81
** Stock's highest level since October 2007
** The Chinese copper and gold miner proposes to issue $500 mln zero coupon convertible bonds due 2030, raising proceeds to repay existing debt
** Says, bonds will be convertible into 463.1 mln shares, representing 3.7% of the enlarged share capital, at an initial conversion price of HK$8.40 each
** This is at a 34.6% premium to Monday's close of HK$6.24 each
** YTD, stock up 152.7%, Hang Seng material index .HSCIM up 125.6%, Hang Seng Index .HSI up 32.6%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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