Yanzhou sells dollar hybrid amid coal crisis

China’s third largest coal producer raised its first $300 million perpetual bond as it seeks to refinance existing debt amid an industry downturn.

Coal prices in China have dropped since the beginning of the year but Yanzhou Coal still managed to price its first ever $300 million hybrid note on Thursday, receiving an orderbook that is nine times oversubscribed.

¬ Haymarket Media Limited. All rights reserved.

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