Chinese coal producer stokes bond markets

China Shenhua, the world’s largest coal producer, mandates banks for potential dollar bond, defying market fears towards the volatile commodity sector.

China Shenhua will begin an investor roadshow on Thursday, having mandated global banks for a potential maiden dollar-denominated bond in the coming weeks.

The Chinese coal producer the largest in the world has mandated Citi, HSBC and JP Morgan as joint global coordinators and bookrunners of the proposed deal, according to a source familiar with the matter. The roadshow will take place in Hong Kong, Singapore and London.

Other joint bookrunners include Deutsche Bank, Goldman Sachs, CICC Hong Kong Securities, ICBC International and BOCOM International, added the source.

China Shenhua’s board has approved an issuance size of up to $1.5 billion for its proposed...

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