New Issue: China’s Baosteel Resources prices $500 million 3 7/8% notes due 2020 to yield 3.989%

By Christine Van Dusen

Atlanta, Jan. 21 – China’s Baosteel Resources International Co. Ltd. priced $500 million 3 7/8% five-year notes (Baa1/BBB+/A-) at 99.488 to yield 3.989% on Wednesday, a market source said.

Commonwealth Bank of Australia and National Australia Bank Ltd. were the bookrunners for the Regulation S deal.

The issuer is a Shanghai-based and state-owned iron and steel company.

Issuer:	Baosteel Resources International Co. Ltd.
Amount:	$500 million
Maturity:	Jan. 28, 2020
Description:	Notes
Bookrunners:	Commonwealth Bank of Australia, National Australia Bank
Coupon:	3 7/8%
Price:	99.488
Yield:	3.989%
Trade date:	Jan. 21
Settlement date:	Jan. 28
Ratings:	Moody’s: Baa1
	Standard & Poor’s: BBB+
	Fitch: A-
Distribution:	Regulation S

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