By William Gullotti
Buffalo, N.Y., June 13 – Yankuang Energy Group Co., Ltd. issued RMB 3 billion of 3.3% perpetual medium-term notes at par, according to a company announcement on Monday.
The perpetuals have a three-year base term and will be redeemable on each coupon reset date.
Industrial Bank Co., Ltd. is the bookrunner and lead underwriter, and Agricultural Bank of China Co., Ltd. is joint lead underwriter.
The company had initially proposed to issue between RMB 2 billion and RMB 3 billion of the perpetuals.
The coal and coal chemical company is based in Jining, China.
| Issuer: | Yankuang Energy Group Co., Ltd.
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| Amount: | RMB 2 billion
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| Issue: | Medium-term notes, 2022 second tranche
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| Tenor: | Perpetual
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| Underwriters: | Industrial Bank Co., Ltd. (bookrunner) and Agricultural Bank of China Co., Ltd.
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| Coupon: | 3.3%
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| Price: | Par of RMB 100
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| Yield: | 3.3%
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| Call option: | At par on coupon reset date
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| Settlement date: | June 10
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