HomeProduct Complimentary download Shagang to issue short-term bonds worth RMB 3 billion

Shagang to issue short-term bonds worth RMB 3 billion

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Publish time: 26th February, 2013      Source: ChinaCCM
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Jiangsu Province-based Chinese steelmaker Shagang Group has announced that it plans to issue short-term bonds worth RMB 3 billion ($477 million). The period of issuance of the short-term bonds is one year, with China CITIC Bank as the main consignee.   Accordingly, RMB 1.5 billion ($238.5 million) of the raised funds will be used to supplement the group's working capital, while the remaining RMB 1.5 billion will be used to repay certain debts and so reduce financial costs