On March 12, Tianjin-based Chinese steelmaker Tianjin Pipe (Group) Corporation (TPCO) announced that on March 14 it will issue short-term bonds worth a total of RMB 500 million ($81.7 million) for a term of 365 days. This is the steel producer's first short-term bond issue in the current year. Industrial Bank Co. will be the lead underwriter.

The short-term bonds which will be issued have been given a rating of A-1, while the issuer's credit rating has been ranked as AA.