Shanxi Taigang Stainless Steel plans to issue CNY 1 billion worth of unguaranteed MTNs.

The value date of the MTNs is November 2nd 2011 and the MTNs will be tradable from November 3rd 2011.

Dagong Global Credit Rating rated both the MTNs and the issuer AAA.

Of the total proceeds raised, 60% will be used to boost capital for operations and to purchase raw materials, with the remainder to be used to repay bank loans.

(Sourced from www.yicai.com)