Hebei-based Chinese steelmaker Hebei Iron and Steel Co., Ltd (Hebei Steel) has announced that on August 8 it issued three-year bonds with a total value of RMB 2 billion ($0.30 million) at the low interest rate of 3.56 percent.
In comparison, in early July this year Hebei-based Chinese pipe producer Xinxing Ductile Iron Pipes Co. issued five-year bonds totaling RMB 1 billion ($0.15 billion) at the higher interest rate of 4.75 percent. Hebei Steel indicated that its successful issue of bonds at a low interest rate reflects investors’ confidence in the company.