Inner Mongolia-based Chinese steelmaker Baotou Iron and Steel Co. (Baogang Group) has announced that on January 23 it plans to issue short-term bonds worth RMB 2 billion ($0.32 billion) for a term of 270 days in its first ultra short-term bond issue in the current year. Bank of China (BOC) will be the lead underwriter, while Bank of Communications will be the co-lead underwriter.
Beijing-based Dagong Global Credit Rating Co., Ltd (Dagong) has given the issuer a credit rating of AA+, while China Credit Rating Co. has ranked its credit rating as AA.