SINGAPORE -(Dow Jones)- Yanzhou Coal Mining Co. (600188.SH) has priced a US$1 billion two-tranche dollar bond at the wide end of guidance, according to a term sheet seen by Dow Jones Newswires Thursday.
The company priced a US$450 million five-year tranche at par to yield 370 basis points over comparable Treasurys, or 4.461%. It also priced a US$550 million 10-year tranche at par to yield 390 basis points over Treasurys, or 5.730%.
Guidance had suggested a yield of 360-370 basis points over Treasurys on the five-year tranche, and 380-390 basis points over Treasurys on the 10-year tranche.
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 was issued by Yancoal International Resources Development Co. Ltd.
Deutsche Bank and UBS were joint lead managers and bookrunners on the 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 20:57 ET (00:57 GMT)
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