Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Y > Headlines for Yanzhou Coal Mining Co. Ltd. > News item |
China’s Yanzhou Coal subsidiary plans $950 million of bonds
By Marisa Wong
Morgantown, W.Va., Feb. 17 – Yanzhou Coal Mining Co. Ltd. announced that overseas subsidiary Yancoal Australia is planning an up to $950 million debt financing transaction.
Yancoal will issue $760 million of tranche 1 bonds and $190 million of tranche 2 bonds.
The tranche 1 bonds will carry a coupon of 8.55%, and the tranche 2 bonds will bear interest at 0% to 15%, depending on the company’s EBITDA performance.
The proposed issuance is still subject to regulatory approval but is expected to be completed before April 30.
Yanzhou is a Zoucheng, China-based coal mining company. Yancoal is a Sydney, Australia-based coal mining company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.