Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Co. has announced that it plans to issue medium-term notes worth RMB 1.6 billion ($261 million) on July 18. This will be the company's first medium-term notes issue in the current year.
The bonds in question will mature within five years. Shanghai Pudong Development Bank and China Merchants Bank will be co-lead underwriters.
Dagong Global Credit Rating Co. has given the medium-term notes which will be issued a rating of AA, while it has ranked the issuer's credit rating as AA.