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China’s Yanzhou Coal proposes dollar-denominated senior perpetuals
By Marisa Wong
Morgantown, W.Va., April 6 – Yanzhou Coal Mining Co. Ltd. said it is planning to issue dollar-denominated senior perpetual capital securities.
The securities will be issued through indirect wholly owned subsidiary Yancoal International Resources Development Co., Ltd. and guaranteed by the parent company.
Deutsche Bank, CMB International and China Silk Road are the joint bookrunners for the proposed Regulation S offering.
The Zoucheng, China-based coal mining company intends to use proceeds to repay debt or for capital expenditure, working capital and general corporate purposes.
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