Lingyuan Steel to issue non-public bonds worth RMB 1.2 billion

Liaoning Province-based Chinese steel producer Lingyuan Iron & Steel Co., Ltd (Lingyuan Steel) has announced that it plans to issue non-public bonds worth RMB 1.2 billion ($0.18 billion). In particular, the period for the company’s non-public bonds will not exceed three years. The money in question will be used to repay loans and fund the company’s working capital.