PRC steel producer in high yield bond issue

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    clpstaff &clp articles

    Steel giant China Oriental Group Company (China Oriental) has issued a US$550 million five-year, 8% secured high yield bond. The sole global coordinator…

    Steel giant China Oriental Group Company (China Oriental) has issued a US$550 million five-year, 8% secured high yield bond. The sole global coordinator of the issue was Deutsche Bank, and Deutsche Bank and ING were the joint lead managers and bookrunners.

    China Oriental will use the offering proceeds to fund projects such as potential domestic steel mill acquisitions, capital expenditure projects of its current production facilities and potential investments in iron ore assets.

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