Winsway Coking Coal (01733) said it will issue 8.5%
senior notes due 2016 in the aggregate principal amount of US$500 million.
The notes are expected to be issued on or about 8 April 2011 and will be offered and
sold outside of the United States in reliance on Regulation S. None of the notes will be
offered to the public in Hong Kong.
The estimated net proceeds will be about US$488 million. Winsway intends to use the
proceeds for financing the investment in the subsidiaries, joint ventures and/or certain
entities to purchase rolling stock and other transportation-related vehicles and invest in
railway-related infrastructure, for financing investments in upstream resources through
new acquisitions and/ or joint venture projects and otherwise to secure upstream resources
as well as for working capital and other general corporate purposes.
Approval in-principle has been received for the listing and quotation of the notes on
the Official List of the SGX-ST.
Deutsche Bank, Merrill Lynch International, Goldman Sachs and ICBC International Capital
are the joint bookrunners and Deutsche Bank, Merrill Lynch International, Goldman Sachs
and ICBC International Securities are the joint lead managers in respect of the offer and
sale of the notes. (HL)