December 02, 2008

Jigang Group to issue CNY 1.5 billion in short term debt

It is reported that Jigang Group, parent of Jinan Iron & Steel Co Ltd plans to issue CNY 1.5 billion worth of 365 day debt on July 28th.

Jigang Group in a statement said the yield will be determined through a bookbuilding. It said proceeds from the bond issue will supplement working capital.

Industrial and Commercial Bank of China will be the underwriter for the issue.