By Cady Vishniac
Detroit, Nov. 4 – Yanzhou Coal Mining Co. Ltd. subsidiary Yancoal International Resources Development Co., Ltd. has issued $500 million of 3˝% senior guaranteed bonds due 2023 (Ba1), according to a notice on Wednesday.
Deutsche Bank, Standard Chartered Bank, CMB International and Haitong International acted as joint global coordinators, joint lead managers and joint bookrunners on the Regulation S deal.
Industrial Bank Co., Ltd. Hong Kong Branch, China Everbright Bank Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch acted as joint lead managers and joint bookrunners.
Proceeds will be used primarily to refinance debt, according to Moody’s Investors Service.
Hong Kong-based Yancoal provides coal exploration, production and distribution services.
| Issuer: | Yancoal International Resources Development Co., Ltd.
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| Guarantor: | Yanzhou Coal Mining Co. Ltd.
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| Issue: | Senior guaranteed bonds
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| Amount: | $500 million
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| Maturity: | 2023
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| Bookrunners: | Deutsche Bank, Standard Chartered Bank, CMB International, Haitong International, Industrial Bank Co., Ltd. Hong Kong Branch, China Everbright Bank Hong Kong Branch and Shanghai Pudong Development Bank Hong Kong Branch
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| Coupon: | 3˝%
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| Pricing date: | Oct. 28
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| Listing date: | Nov. 4
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| Ratings: | Moody’s: Ba1
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| Distribution: | Regulation S
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