Yanzhou Coal digs up $275m from bond

Coal Fotolia 230x150
By Morgan Davis
23 Nov 2018

Yanzhou Coal Mining Co pursued a $275m deal on Thursday, altering its initial fundraising goals to score a tightly priced transaction.

The Chinese state-owned enterprise hit the market to refinance some of its dollar debt. Like other Mainland issuers, Yanzhou Coal had a bit of a predicament, said a syndicate banker on the deal. Offshore market sentiment for high yield names is weak, and demand for premium is high. ...

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