Sichuan Province-based Chinese steelmaker Panzhihua Iron and Steel Co. (Pangang Group) has announced that it plans to issue short-term bonds worth a total of RMB 3 billion ($483.9 million) on March 4. This will be the company's first short-term bond issue in the current year. The bonds in question will mature within one year, while Bank of
China and
China Everbright Bank will be the lead underwriters.
Beijing-based
China Cheng Xin International Credit Rating Co. has given the short-term bonds which will be issued a rating of A-1, while it has ranked the issuer's credit rating as AA+.