12 Dec 2014capital raising announcement● Neutral
Yancoal lodged a supplementary prospectus extending the timetable of the Subordinated Capital Notes offer, following the Takeovers Panel pause. The text gives no new dates or terms.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Nov 2014capital raising announcement● Neutral
Letter telling ineligible shareholders, such as those outside Australia and New Zealand, they cannot take part in the notes offer. No action is required. It repeats the offer terms and the 28 November record date.
25 Nov 2014capital raising announcement● Neutral
Letter to eligible shareholders outlines the notes offer: 2.32112 notes per 100 shares at US$100 (A$125) each, record date 28 November. It says the offer aims to ease covenant pressure under the Bank of China facilities. Yanzhou will not apply for additional notes.
24 Nov 2014capital raising announcement● Neutral
Prospectus lodged for the Subordinated Capital Notes rights offer of up to about US$2.3077bn. Entitlement trading is expected from 26 November to 10 December, with notes issued around 24 December 2014. This formalises the 10 November offer announcement.
10 Nov 2014capital raising announcement● NeutralMajor
Yancoal launches a rights offer of Subordinated Capital Notes to raise up to about US$2.3bn, at a 7.00% initial distribution rate and convertible at US$0.10 per share. Yanzhou will take up its ~US$1.8bn share, used to repay Yanzhou debt; Bank of China and China Construction Bank would extend their US$2.6bn facility three years.