Guangdong Shaoguan Iron and Steel, a subsidiary of Baosteel, will issue short-term bonds with a total value of 400 million yuan on Sept. 22. The bonds, which will have a term of 366 days, are rated at A-1 by CCXI, China's leading rating agency.
The company will use the 400 million yuan raised to repay bank loans of Shaogang Songshan, a subsidiary of Guangdong Shaoguan Iron and Steel, to improve its debt structure.
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