Yanzhou Coal, one of China’s largest coal companies, returned to the international bond market on Thursday, raising $500 million in a perpetual non-call three-year bond.
The Reg S sale came after a slew of new issuance from once-troubled commodity companies in the region, including Noble Group of Singapore and Indika Energy of Indonesia, underscoring the renewed optimism in the sector as natural resource prices have recovered.
The state-owned company, rated B2BB-B by Moody’sSPFitch, captured more than $4.5 billion of orders at one point, according to a syndicate banker running the deal.
The banker added that the new...
¬ Haymarket Media Limited. All rights reserved.
