ANGANG STEEL (00347.HK): Proposes Registration of Debt Financing Instruments of up to RMB 10 Billion

NewTimeSpace News: On 27 August 2026, Angang Steel Company Limited (stock code: 00347) announced that the Board has resolved to submit for shareholders' consideration and approval proposals on the registration and issuance of debt financing instruments, including extending the shareholder-approved issuance period of registered instruments to the respective validity dates of regulatory approvals, and applying to register Basic-tier Enterprise Debt Financing Instruments (PDFI) with an aggregate principal of no more than RMB 10.0 billion.

According to the announcement, the quotas of RMB 3.0 billion each for short-term commercial paper, super short-term commercial paper and medium-term notes approved in May 2024 expired in May 2026, with the relevant NAFMII approvals expiring in October 2026, March 2027 and May 2028 respectively; RMB 2.2 billion of short-term commercial paper and RMB 0.5 billion of super short-term commercial paper have been issued to date. PDFI products cover super short-term commercial paper (up to 270 days), short-term commercial paper (up to one year) and medium-term notes (up to seven years), with the resolution valid for 24 months from shareholders' approval, and proceeds to be used for working capital and debt repayment.

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