On July 31, Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Group Co. (Ansteel) announced that, for the purposes of supplementing working capital, improving financing structure and supporting project investment, it will issue medium-term bonds worth RMB 5 billion ($790 million) on August 7.
The period of issuance of the short-term bonds is three years, from August 8, 2012 to August 8, 2015, with interest payment once a year. China Chengxin International Credit Ranking Co. has ranked Ansteel's long-term credit ranking as ‘AAA' and the medium-term bonds in question as ‘AAA'.