Source: ETNet                        Date: 06 April, 2011

Winsway Coking Coal, which has bid for the Tavan Tolgoi deposit in partnership with Peabody Energy, will issue 8.5% senior notes due 2016 in the aggregate principal amount of USD500 million. The estimated net proceeds will be about USD488 million to be used 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.

Deutsche Bank, Merrill Lynch International, Goldman Sachs and ICBC International Capital are the joint book runners 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.