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Angang Steel Seeks Approval for Up to 10 Billion Yuan Debt Financing

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Angang Steel (HKG:0347) proposed registering and issuing up to 10 billion yuan of debt financing instruments in China's interbank bond market.

The proposed instruments will comprise ultra-short-term financing bills, short-term financing bills and medium-term notes, to be issued in tranches based on the company's funding needs and market conditions, according to a Hong Kong bourse filing.

The plan aims to lower funding costs, broaden financing channels and optimize the company's financing structure. Proceeds will be used for working capital, debt repayment and other permitted purposes.

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