INTERNATIONAL COAL NEWS

Yanzhou to raise $1B

CHINESE mining giant Yanzhou Coal has issued $US1 billion worth of notes on the Hong Kong Stock E...

Justin Niessner

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International law firm Baker & McKenzie is advising the listing.

The notes were issued by Yanzhou subsidiary Yancoal International Resources in two tranches – US$450 million 4.461% guaranteed notes due 2017 and US$550 million 5.730% guaranteed notes due 2022.

Earlier this month, Bloomberg speculated that Yanzhou was in talks to buy Vale’s troubled Integra underground and open cut coal mine in Australia although the Brazilian miner would not substantiate the claim with ILN.

Yanzhou Coal is one of the primary coal producers in China with rapidly growing coal mining operations in the Asia-Pacific region.

The miner is a long standing client of Baker & McKenzie which advised regulatory and legal aspects of the company’s $3.3 billion acquisition of Australia’s Felix Resources in 2010.

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