On September 4, Kunming, Yunnan Province-based Chinese steelmaker Kunming Iron & Steel Holding Co. (Kunming Steel) announced that it will issue its second tranche of short-term bonds for the current year on September 9, worth a total of RMB 1.5 billion ($245 million), for a term of 365 days.
Beijing-based China Cheng Xin International Credit Rating Co. has given the short-term bonds in question a rating of A-1, while it has ranked the issuer's credit rating as AA+ and rated its outlook as stable. Bank of China Limited will be the lead underwriter for the bond issue.