Baosteel issues biggest corporate dim sum bond

Chinese steelmaker Baosteel chooses to keep the five-year tranche of its offshore renminbi bond small despite strong demand, opting instead to allocate more to the three-year tranche.

Baosteel issues biggest corporate dim sum bond

Baosteel, a Chinese state-owned steelmaker, became the first mainland company to tap the dim sum market directly on Friday morning when it closed a Rmb3.6 billion $564 million offshore renminbi bond the largest corporate dim sum issue to date.

Baosteel is the biggest of the three Chinese steel producers under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council and was the first PRC-incorporated company to win approval from...

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