Chinese stainless steel producer Taiyuan Iron & Steel Co. (TISCO) plans to issue RMB 3 billion ($470 million) in medium-term notes with a maturity of five years in the inter-bank market on September 27, according to media resources
Taiyuan Iron & Steel, which plans to use the proceeds from the offering to replenish its working capital and repay bank loans, said in a statement that the coupon rate will be fixed in the process of book building. Both value and payment due dates will be set on September 28 and the to-be-issued notes will be tradable on September 29.
China Lianhe Credit Rating Co. has given both the issuer and notes an AAA rating