Xinjiang-based Chinese steelmaker Bayi Iron and Steel Co. (Bayi Steel), a subsidiary of Chinese steel giant Baosteel Group, has announced that it plans to issue medium-term notes worth RMB 1.0 billion ($162 million) on September 3.This will be the company's first medium-term notes issue in the current year. The bonds in question will mature within three years. China Construction Bank (CCB) will be the lead underwriter.
China Chengxin International Credit Rating Co. has given the medium-term notes to be issued a rating of AA+, while it has also ranked the issuer's credit rating as AA+.