Hebei Iron debuts $500m bond

China’s second-biggest steel producer raises its first dollar-denominated bond, boosting its warchest amid thirst for global expansion.

Hebei Iron debuts $500m bond

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...

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