Masteel plans to issue short-term bonds worth RMB 10 billion

On Thursday, July 5, Anhui Province-based Chinese steelmaker Ma'anshan Iron and Steel Co. (Masteel) announced that, for the purposes of improving its debt structure and reducing its financing costs, it will issue short-term bonds worth not more than RMB 10 billion ($1.57 billion).
 
This proposal has been approved by the board of directors of Masteel and will be discussed at a shareholders meeting to be convened on August 23 this year.