Shanghai-based Meishan Iron and Steel Co., a subsidiary of major Chinese steelmaker Baosteel Group, has announced that it plans to issue short-term financing bonds worth RMB 1.8 billion ($291.7 million) on May 7. The bonds will mature within 365 days and will be the first short-term financing bonds issued by the company in 2013.
The Industrial and Commercial Bank of China will be the lead underwriter.