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China Coal Energy to issue RMB 5 bln notes

Sep. 12, 2012 (China Knowledge) - China Coal Energy Co Ltd<601898><1898>, the country's second-largest coal miner by revenue, has said that it plans to issue RMB 5 billion worth of unsecured medium-term notes with a maturity of seven years on the interbank market on Sep. 18.

The company said in a statement that the notes will be issued at face value and coupon rate determined in the process of book-building.

Both value and payment due date is on Sep. 19 and the to-be-issued notes tradable Sep. 20.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
Bank of China Ltd<601988><3988> has been hired as book-runner and lead underwriter for the offering, and China International Capital Corp will be joint lead underwriter.

Proceeds from the deal will be used to replenish the company's working capital.

The coal firm said last month that its net profit attributable to shareholders decreased 4.1% YoY to RMB 4.77 billion in the first half of this year.

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