Tag: coal

Indian steel maker Essar shells out $600 million for US coal producer Trinity Coal, providing an exit for Trinity's private-equity owner Denham Capital. The Chinese coal mining equipment maker will use the money to fund potential acquisitions and other investments to enhance its production capacity. The Chinese producer of coking coal achieves a coupon of only 1.5%, but offers investors a back-ended yield-to-put of 3.5%. Last November the Canadian-listed coal company with mines in Mongolia attracted CIC as an investor, now Hong Kong investors will get their chance to buy a share. Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this year. The $300 million seven-year deal comes with a one-year put and a low coupon, as well as a synthetic stock borrow arrangement that helped to attract hedge funds. The Chinese lender becomes more attractive as valuations for other banks improve. Meanwhile, Sany Heavy Equipment prices its offering at the top of the range for a total deal ... Indonesian mining contractor Buma pays 11.75% for a five-year issue and raises additional funding from a syndicated loan, while fellow Indonesian coal miner Indika prices its ... The Canadian coal mining company will use the money to expand production and improve local transportation. PT Adaro, Indonesia's second biggest coal miner, raises $800 million through the sale of 10-year notes and pays just 7.75% thanks to strong support from global high-yield funds. Yanzhou Coal values Brisbane-based coal miner Felix Resources at $2.98 billion and secures the backing of the Felix board and controlling shareholders. The first Indonesian CB this year meets sufficient demand to warrant the deal to be upsized to nearly double the original offering. The Indonesian coal producer attracts more than $1.8 billion in orders despite a sharp downturn for most of its sector peers, but is forced to price its $529 million deal ... High-growth company Bayan Resources aims to take advantage of the fact that coal is one of the few remaining "hot" sectors. The Indonesian coal miner sets the price of its IPO at the top for a total deal size of $298 million, while Adaro decides to focus primarily on domestic accounts for its share ... The Indonesian coal producer has set the price range at a sizeable discount to its peers. Indonesian coal miners are planning to raise capital for expansion to meet the global demand for fuel. The diversified mining company sells its IPO stake in the Chinese coal miner through a $708 million block trade. Pre-IPO shareholders cash in $702 million worth of shares in Belle, while an undisclosed seller offloads $87 million of stock in Shenhua Energy. Indika Energy hopes to raise up to $400 million to fund its plans to become an energy conglomerate.