By Mary-Katherine Stinson
Lexington, Ky., Oct. 24 – Yankuang Energy Group Co., Ltd. issued RMB 2 billion of 3.4% perpetual medium-term notes at par, according to a company announcement.
The perpetuals have a two-year base term and will be redeemable on each coupon reset date. The first coupon reset date is Oct. 23, 2025.
China Merchants Bank Co., Ltd. is the bookrunner and lead underwriter, and China Guangfa Bank Co., Ltd., Bank of China Ltd. and Postal Savings Bank of China Co., Ltd. are joint lead underwriters.
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, 2023 first tranche
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| Tenor: | Perpetual
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| Underwriters: | China Merchants Bank Co., Ltd. (bookrunner) and China Guangfa Bank Co., Ltd., Bank of China Ltd. and Postal Savings Bank of China Co., Ltd.
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| Coupon: | 3.4%; resets beginning Oct. 23, 2025
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| Price: | Par of RMB 100
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| Yield: | 3.4%
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| Call option: | At par on coupon reset date
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| Settlement date: | Oct. 23
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