Liaoning Province-based Chinese steelmaker Anshan Iron and Steel Co. (Ansteel) announced that it plans to issue short-term bonds worth RMB 1.2 billion ($196.7 million) on November 28. This will be the company's third short-term bond issue in the current year.
The bonds in question will mature within nine months, while China Construction Bank will be the lead underwriter.
At present, Ansteel and its subsidiaries have short-term, medium-term and corporate bonds totaling RMB 8.8 billion ($1.44 billion) to be repaid. Beijing-based China Cheng Xin International Credit Rating Co. has given the short-term bonds which will be issued a rating of A-1, while it has ranked the issuer's credit rating as AAA.