SINGAPORE -(Dow Jones)- Yanzhou Coal Mining Co. (600188.SH) has tightened guidance on its planned two-tranche benchmark dollar bond, according to a term sheet seen by Dow Jones Newswires on Wednesday.
The company is seeking to price a five-year tranche to yield 360-370 basis points over comparable Treasurys, and a 10-year tranche to yield 380-390 basis points over Treasurys, the term sheet showed.
Initial price thoughts had indicated a yield of around 370 basis points over Treasurys for the five-year tranche, and 390 basis points over Treasurys for the 10-year tranche.
The fixed-rate senior unsecured bond is to be issued by Yancoal International Resources Development Co.
Deutsche Bank and UBS are joint lead managers and bookrunners on the planned Rule 144A/ Reg S offering, which is provisionally rated Baa3 by Moody's Investors Service and triple-B-minus by Fitch Ratings and Standard & Poor's Ratings Services.
-By Natasha Brereton-Fukui, Dow Jones Newswires; +65-6415-4044; firstname.lastname@example.org
(END) Dow Jones Newswires
May 09, 2012 02:17 ET (06:17 GMT)
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