Shougang to issue short-term bonds worth RMB 6 billion

Beijing-based Chinese steelmaker Shougang Group has announced that on June 18 it plans to issue short-term bonds worth RMB 6 billion ($0.98 billion) for a term of 365 days, in its first short-term bond issue in the current year. Huaxia Bank will be the lead underwriter.
 
Beijing-based Dagong Global Credit Rating Co., Ltd (Dagong) has given the short-term bonds in question a rating of A-1, while it has ranked the issuer's credit rating as AAA.