Hebei Iron & Steel is China's second-largest steel producer
Hebei Iron and Steel sold a $500 million three-year bond on Monday night, raising funds for working capital purposes as it looks to beef up its operations overseas.
The Reg S-registered offering priced at Treasuries plus 205bp, which is only 5bp tighter than its initial price offering, according to sources familiar with the matter. It has a yield of 2.829% and coupon of 2.75%.
The issuance window on Monday...