Shanxi Province-based Chinese stainless steel producer Taigang Stainless Steel Co., a subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), has announced that it plans to issue short-term bonds worth RMB 2.5 billion ($408 million) on January 14. The bonds will mature within 270 days, while Industrial and Commercial Bank of China (ICBC) will be the lead underwriter.
Beijing-based China Dagong Global Credit Rating Co. has given the short-term bonds in question a rating of A-1, and has ranked the issuer's long-term credit rating as AAA.
LEAD: Shanxi-based Chinese stainless steel producer Taigang Stainless Steel Co. plans to issue short-term bonds worth RMB 2.5 billion ($408 million) on January 14.