Shandong Iron and Steel Proposes Issuance of 3 Billion Yuan Bonds
Shandong Iron and Steel (SHA:600022) proposed to issue bonds of up to 3 billion yuan, according to a Saturday.The Chinese steel company's shares rose 1% during Monday's afternoon trade.The fixed-rate bonds will have a term of five years and can be issued in tranches.Proceeds will be used to pay debt, replenish the capital's working capital and other purposes.