By Rebecca Melvin
New York, Nov. 28 – China’s Yanzhou Coal Mining Co. Ltd. said it upsized to $335 million its new 6% notes due 2021 (BB), according to a news release on Wednesday.
The company initially priced $275 million of the senior bonds through subsidiary Yancoal International Resources Development Co. Ltd. on Nov. 22 after announcing the deal on Nov. 19.
The Regulation S deal was sold via Deutsche Bank, CMB International and Standard Chartered Bank acting as the joint global coordinators, joint bookrunners and joint lead managers and with Haitong International, CEB International, Industrial Bank Co. Ltd. Hong Kong Branch, SPD Bank Hong Kong Branch and Silk Road International also acting as joint bookrunners and joint lead managers.
Proceeds will be used to repay debt and for working capital and general corporate purposes.
Yanzhou is a coal company based in Zoucheng, China.
| Issuer: | Yancoal International Resources Development Co. Ltd.
|
| Guarantor: | Yanzhou Coal Mining Ltd.
|
| Amount: | $335 million
|
| Issue: | Senior notes
|
| Maturity: | Nov. 29, 2021
|
| Bookrunners: | Deutsche Bank, CMB International and Standard Chartered Bank (joint global coordinators) and Haitong International, CEB International, Industrial Bank Co. Ltd. Hong Kong Branch, SPD Bank Hong Kong Branch and Silk Road International
|
| Coupon: | 6%
|
| Pricing date: | Nov. 22
|
| Add-on: | Nov. 27
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| Settlement date: | Nov. 29
|
| Rating: | S&P: BB
|
| Distribution: | Regulation S
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