Taigang Stainless Steel to issue short-term bonds worth RMB 2 billion

Thursday, 01 August 2013 14:08:15 (GMT+3)   |   Shanghai
       

On July 31, Shanxi Province-based Chinese stainless steel producer Taigang Stainless Steel Co., a subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), announced that it will issue its third tranche of short-term bonds for the current year on August 5, worth RMB 2 billion ($326.3 million), for a term of 365 days. Industrial and Commercial Bank of China (ICBC) will be the lead underwriter.

Beijing-based China Dagong Global Credit Rating Co. has ranked the rating of the short-term bonds in question as A-1, and has ranked the issuer's long-term credit rating as AAA.


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