October 28 -- Shanxi Taigang Stainless Steel (000825.SZ) plans to issue one billion yuan worth of unguaranteed MTNs, reports yicai.com, citing a company filing.

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

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

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