Shandong Steel Group to issue medium-term notes worth RMB 3 billion

On May 13, Shandong Province-based Chinese steelmaker Shandong Iron and Steel Group Co. announced that it is planning its second issue of medium-term notes for the current year, with the notes in question valued at RMB 3 billion ($487.8 million). The notes will mature within five years. China Construction Bank (CCB) will be the lead underwriter. According to Dagong Global Credit Rating Co., Shandong Iron and Steel Group has a credit rating of ‘AAA', while the rating for its planned medium-term note issue is also ‘AAA'.