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WISCO to issue RMB 6 bln in notes

Aug. 22, 2012 (China Knowledge) - Wuhan Iron and Steel (Group) Corp or WISCO, one of the leading iron and steel makers in China, has announced that it plans to issue RMB 6 billion worth of unsecured medium-term notes with a maturity of three years on the interbank market on Aug. 24.

The company said in a statement that the notes will be issued at face value and coupon rate be determined in the process of book-building.

Both value and payment due date is on Aug. 27 and the to-be-issued notes tradable  Aug. 28.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

Industrial and Commercial Bank of China<601398><1398> has been hired as book-runner and lead underwriter for the offering, and Shanghai Pudong Development Bank<600000> will be joint lead underwriter.
This will be the third medium-term notes issued by the group this year.

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