On July 31, Shanxi Province-based Chinese stainless steel producer Taigang Stainless Steel Co., a subsidiary of Taiyuan Iron and Steel (Group) Co. (TISCO), announced that it will issue its third tranche of short-term bonds for the current year on August 5, worth RMB 2 billion ($326.3 million), for a term of 365 days. Industrial and Commercial Bank of China (ICBC) will be the lead underwriter.
Beijing-based China Dagong Global Credit Rating Co. has ranked the rating of the short-term bonds in question as A-1, and has ranked the issuer's long-term credit rating as AAA.
Source:
http://www.steelorbis.com/steel-news/latest-news/taigang-stainless-steel-to-issue-short_term-bonds-worth-rmb-2-billion-774698.htm
