Chinese steelmaker Wuhan Iron and Steel Group (WISCO) has announced that on July 10 it will issue short-term bonds worth RMB 4.5 billion ($710 million), with state-owned China Development Bank acting as underwriter and bookrunner.
The period of issue of the short-term bonds is from July 11, 2012 to July 11, 2013, with a fixed interest rate. China Chengxin International Credit Ranking Co. has ranked WISCO's long-term credit ranking as 'AAA', and has ranked the unguaranteed short-term bonds in question as 'A-1'.