On July 30, Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Co. announced that on August 6 it will issue short-term bonds worth a total of RMB 1.5 billion ($240 million), for a term of 365 days.
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 AA.
China Merchants Bank Co. will be the lead underwriter for the bond issue.