Baosteel prepares first mainland corporate dim sum bond

The state-owned steelmaker completes investor meetings amid challenging markets.

<div style="text-align: left;"> The steel industry could be facing a cyclical downturn (AFP) </div>

Denise Wee

November 24, 2011

Baosteel, a Chinese state-owned steel firm, is poised to become the first mainland company to issue an offshore renminbi bond. Management met with investors in Singapore on Tuesday and Hong Kong on Wednesday, with a view to raising up to Rmb6.5 billion ($1 billion).

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