Baosteel dim sum bond

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.

<div style="text-align: left;"> Baosteel's products have helped to build many of China's new landmarks(ImagineChina) </div>

Denise Wee

November 28, 2011

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.

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