Yancoal pays handsome premium on new perpetual

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Yancoal pays handsome premium on new perpetual

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Yanzhou Coal Mining (Yancoal) priced a perpetual non call two year hybrid on May 15 to bolster its balance sheet. As slowing economic growth in China fanned concerns about the prospects for the country’s coal industry, the issuer took a cautious approach to structuring and had to pay a hefty premium.

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