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Handan Iron & Steel Group, parent of Handan Iron & Steel Co Ltd, said it plans to issue 2.2 bkn yuan worth of 365-day debt paper on the interbank market on July 2.

In a statement posted on the official Chinabond.com website, the company said the bills will be issued at a price of 100 yuan, with the yield to be set through a book-building process on the same day.

The proceeds will be used to supplement its working capital, the company said.

China Minsheng Bank Corp will be the main underwriter, it added.