China Shenhua Energy sets roadshow to market dollar-denominated bonds

By Marisa Wong

Madison, Wis., Jan. 6 – China Shenhua Energy Co. Ltd. announced it plans to issue dollar-denominated bonds. The company will begin a roadshow on Jan. 8 ahead of the planned Regulation S deal.

The company’s board of directors approved on Dec. 26 the issuance of up to $1.5 billion of bonds with maturities of three to 10 years.

Citigroup Global Markets Ltd., Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities plc, Deutsche Bank AG, Singapore Branch, Goldman Sachs (Asia) LLC, China International Capital Corp. Hong Kong Securities Ltd. and Bocom International Securities Ltd. are the joint bookrunners and joint lead managers for the proposed issuance. ICBC International Capital Ltd. will also act as joint bookrunner with ICBC International Securities Ltd. as joint lead manager.

Citigroup, HSBC and JPMorgan will also act as joint global coordinators.

The bonds will be issued through indirect wholly owned subsidiary China Shenhua Overseas Capital Co. Ltd. and guaranteed by China Shenhua’s direct wholly owned subsidiary, Shenhua Hong Kong Ltd.

Proceeds will be used to repay loans of China Shenhua’s overseas subsidiaries and for overseas projects.

The coal mining company is based in Beijing.

© 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.