Shandong Province-based Chinese steelmaker Shandong Iron and Steel Group hasannounced it will issue medium-term bonds worth RMB 2 billion ($319 million) on March 19.
China Construction Bank will be the main underwriter.
The period of issuance of the medium-term bonds is five years, from March 20, 2013 to March 20, 2018, with interest payment on March 20 every year.
China Dagong International Credit Ranking Co. has ranked Shandong Steel’s issuer credit ranking as ‘AAA’ and the medium-term bonds in question as ‘AAA’.