China’s Maanshan Iron plans up to RMB 10 billion of corporate bonds

By Wendy Van Sickle

Columbus, Ohio, March 31 – Maanshan Iron & Steel Co. Ltd.’s board of directors approved an issuance of up to RMB 10 billion of corporate bonds in in the People’s Republic of China, according to a company announcement.

The bonds will have a term of no more than five years.

Proceeds will be used for repaying interest-bearing debts and replenishing working capital.

The proposed issuances are subject to shareholders’ approval at an upcoming general meeting.

The steel producer is based in Maanshan, Anhui, China.

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