On January 8, Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., a subsidiary of Taiyuan Iron and Steel (Group) Co., announced that it received a registration approval notice from China’s National Association of Financial market Institutional Investors (NAFMII) on December 31, 2012 concerning its planned issue of short-term bonds.
Accordingly, the registered value of the short-term bonds to be issued by the company is RMB 9 billion ($1.43 billion). The approval notice will be valid for two years from the date of issue of the notice, i.e., December 31, 2012, and the short-term bonds can be issued in phases in the period in question.