Sullivan & Cromwell on China Shenhua's $1.5B Bond Sale
Latham & Watkins is acting for the underwriters on the state-run company's first entry into the international bond market.
January 19, 2015 at 06:08 PM
1 minute read
Sullivan & Cromwell is advising state-run China Shenhua Energy Co. Ltd. on its first-ever international debt sale.
The world's largest coal company is selling $1.5 billion worth of bonds in three-, five- and 10-year tranches worth $500 million each. The notes are supposed to be issued this week on the Hong Kong stock exchange.
In a filing to the exchange, China Shenhua said the money raised would go toward debt repayment at its overseas subsidiaries and approved overseas projects.
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