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Mongolian Mining, subsidiary plan to issue new notes
By Marisa Wong
Los Angeles, April 24 – Mongolian Mining Corp. and indirect wholly owned subsidiary Energy Resources LLC plan to jointly issue new notes (//B), according to a company announcement.
The new notes are being issued under a new money offering as well as under a concurrent exchange offer for the subsidiary’s existing 9¼% senior notes due 2024.
Pricing is expected to occur on April 25, with settlement on May 9.
Listing of the new notes on the Singapore Exchange will be on or about May 10.
The company said it is undertaking the concurrent new money issuance and exchange and tender offer as part of its active management of liabilities and capital.
Mongolian Mining is an Ulaanbaatar, Mongolia-based coking coal producer and exporter.
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