Jiangsu Province-based Chinese steelmaker Shagang Iron and Steel Co. has announced that it will issue its first set of short-term bonds in the current year on May 8, worth a total of RMB 2 billion ($326 million), for a term of 365 days. China CITIC Bank will be the lead underwriter, while Bank of Communications will be the co-lead underwriter.
Beijing-based Dagong Global Credit Rating Co. has ranked the issuer's credit rating as AA+, while it has given the short-term bonds in question a rating of A-1.