On November 28, Gansu Province-based Chinese steelmaker Jiuquan Iron and Steel Group Co. (JISCO) announced that it plans to issue medium-term notes worth RMB 3.8 billion ($622.9 million) on December 5. This will be the company’s first medium-term note issue in the current year. Some of the notes in question will mature within three years and others within five years, though the respective amounts have not been specified yet.
China Development Bank (CDB) will be the lead underwriter.At present, JISCO has total medium-term notes worth RMB 16.4 billion ($268.9 million) to be repaid.
Beijing-based China Lianhe Credit Rating Co. (CCXI) has ranked the rating of the medium-term notes in question as AA+, and has ranked the issuer's credit rating as AA+.
