China's Angang Steel investors to mull issuing up to RMB 10 billion bonds

By Susanna Moon

Chicago, Dec. 16 - Angang Steel Co. Ltd. said its board approved an offering of up to RMB 10 billion of domestic corporate bonds in two tranches.

The company will hold a shareholders meeting on Feb. 6 to approve the proposed issue.

The maturities of the two tranches will be five years and 10 years.

Proceeds will be used to repay bank loans, adjust debt structure and supplement working capital.

Angang is a steel company based in Anshan City, China.

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