By Marisa Wong
Madison, Wis., May 6 – Yanzhou Coal Mining Co. Ltd. has issued RMB 2 billion of perpetual notes under its medium-term note program, according to a 6-K filing with the Securities and Exchange Commission.
The floating-rate bonds were priced at par. The coupon rate is currently 6.19%.
The bonds are non-callable during the first three years.
As announced in February, the company registered to issue a total of RMB 5 billion of medium-term notes in multiple tranches over a period of two years.
Shareholders had previously approved domestic or overseas financing of an aggregate amount not exceeding RMB 30 billion.
Proceeds from this first tranche for 2015 will be used to supplement working capital.
The coal production, processing, marketing and transportation company is based in Zoucheng, China.
| Issuer: | Yanzhou Coal Mining Co. Ltd.
|
| Issue: | Medium-term notes, 2015 first tranche
|
| Amount: | RMB 2 billion
|
| Maturity: | Perpetual
|
| Coupon: | Floating (6.19% currently)
|
| Price: | Par of RMB 100
|
| Call option: | Non-callable for first three years
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Rating: | China Chengxin International Credit Rating Co. Ltd.: AAA
|
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