China Shenhua Energy Co. Ltd. said Jan. 6 that it is planning to issue U.S. dollar-denominated unsecured bonds to raise up to $1.5 billion.

The bonds, which will have a term from three years to 10 years, are expected to have the benefit of a keepwell, liquidity support and equity interest purchase covenant deed provided by the company. Net proceeds of the proposed bonds issue will be used for the repayment of loans of overseas subsidiaries, approved overseas projects and other uses.