More capital for the Pilbara killler:
The world’s largest steelmaker China Baowu Steel Group has raised 10 billion yuan ($1.4 billion) from a bond issue, in part for the giant Simandou iron ore project in Guinea, it said on Monday.
The capital, raised by issuing three-year fixed rate bonds with an annual coupon rate of 2.45%, will be used for operating expenditure, including debt repayments, working capital and project construction, the company said in a document filed to the Shanghai Stock Exchange last week.
