Chinese steelmaker Shandong Iron and Steel Group (Shandong Steel) has announced that on November 14 it plans to issue short-term bonds worth RMB 3 billion ($0.49 billion) for a term of 365 days, in its fifth short-term bond issue in the current year. China Merchants Bank (CMB) will be the lead underwriter.
Beijing-based China Cheng Xin International Credit Rating Co. (CCXI) has given the new short-term bonds in question a rating of A-1, while it has ranked the issuer's credit rating as AAA.