China's Yanzhou Coal gets board approval for up to $1 billion of bonds

By Marisa Wong

Madison, Wis., March 5 - Yanzhou Coal Mining Co. Ltd. said its board of directors approved the proposed issue of up to $1 billion of bonds.

The bonds are to be issued through a wholly owned offshore subsidiary.

The planned issuance is subject to shareholders' approval at a general meeting. If granted, the approval would be valid for 12 months.

The coal production, processing, marketing and transportation company is based in Zoucheng, China.

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