On January 21, Gansu Province-based Chinese steelmaker Jiuquan Iron and Steel Co., Ltd (JISCO) announced that it plans to issue short-term bonds worth RMB 1 billion ($160 million) on January 28, with the approval of China’s National Association of Financial Market Institutional Investors (NAFMII). The period of issuance of the short-term bonds is one year, with Bank of China as the main consignee.
Accordingly, the raised funds will be used to supplement JISCO’s working capital and to finance some of its bank debt.