Hesteel gets CSRC approval for CNY10 bn bond issuance

Hesteel Company Limited recently announced it has obtained approval from the China Securities Regulatory Commission (CSRC) for the public issuance of corporate bonds to professional investors. The approval allows Hesteel to issue corporate bonds with a total face value not exceeding CNY10 billion.

The company is authorized to issue these bonds in tranches, with the approval remaining valid for 24 months from the registration date. Hesteel is required to strictly follow the prospectus submitted to the Shenzhen Stock Exchange for this issuance.

Hesteel must report any significant events promptly and handle them according to relevant regulations, from the date of approval until the completion of the bond issuance. The company will manage all related matters within the authorized scope of its shareholders' meeting and ensure timely information disclosure as per legal requirements and the CSRC's approval document.