Hubei Province-based Chinese steelmaker Wuhan Iron and Steel (Group) Corporation(WISCO) has announced that it plans to issue medium-term notes worth RMB 7 billion ($1.13 billion) on August 7. The period of issuance of the medium-term notes is three years, with China Construction Bank as the main consignee.
China Chengxin International Credit Ranking Co. has ranked WISCO's long-term credit rating as ‘AAA' and the medium-term notes in question as ‘AAA'.
As of July 15 this year, WISCO's total bonds and notes to be paid had amounted to RMB 32.8 billion ($5.31 billion).