Guangzhou Province-based Chinese pipe producer Panyu Chu Kong Steel Pipe Co. has announced that, for the purpose of increasing working capital and repaying debts, it will issue short-term bonds worth RMB 200 million ($32 million) on May 9.
The period of issuance of the short-term bonds is 365 days, with China Guangfa Bank as the main consignee.
Shanghai New Century Credit Rating Investment Services Ltd has rated the company's credit ranking as ‘AA-' and the short-term bonds in question as ‘A-1'.
As SteelOrbis previously reported, Panyu Chu Kong Steel Pipe Co. issued short-term bonds worth RMB 300 million ($48 million) on November 12, 2012.
Source:
http://www.steelorbis.com/steel-news/latest-news/panyu-chu-kong-steel-pipe-to-issue-short_term-bonds-worth-rmb-200-million-756946.htm
