Inner Mongolia Yitai Coal to offer up to RMB 3.5 billion of notes

By Marisa Wong

Madison, Wis., Aug. 27 - Inner Mongolia Yitai Coal Co., Ltd. said it plans to issue up to RMB 3.5 billion of medium-term notes in China.

The notes will have a maturity of five years or less.

Proceeds will be used for working capital and to repay bank loans.

The proposed notes are subject to shareholders' approval at an upcoming general meeting.

Based in Ordos, Inner Mongolia, Yitai Coal operates in coal mining, processing and distribution. Through its subsidiaries, the company also operates in hotel management, licorice planting, pharmaceutical manufacturing and road maintenance.

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