Shagang to issue short-term bonds worth RMB 2.3 billion

Jiangsu Province-based Chinese steelmaker Shagang Group has announced that it plans to issue short-term bonds worth RMB 2.3 billion ($369 million) on November 28. The period of issuance of the short-term bonds is one year, from November 30, 2012 to November 29, 2013.

 

Beijing-based Chinese credit rating agency Dagong Global Credit Rating has ranked Shagang Group’s long-term credit rating as ‘AA+’ with a stable outlook, while the credit rating of Shagang’s short-term bonds is ‘A-1’.