China's Yanzhou Coal gets board approval for up to $2 billion of bonds

By Marisa Wong

Madison, Wis., Aug. 27 - Yanzhou Coal Mining Co. Ltd.'s board of directors approved the proposed issue of up to $2 billion of bonds, according to a 6-K filing with the Securities and Exchange Commission.

The bonds are to be issued through Yancoal International Resources Development Co., Ltd. or other wholly owned offshore subsidiaries.

The planned bonds are subject to shareholders' approval at a general meeting. If granted, the approval would be valid for 24 months.

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

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