China Telecom to issue bonds worth 20 billion yuan
May 15, 2006
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China Telecom, the country's top fixed line phone company, plans to issue 20 billion yuan ($2.49 billion) in domestic bonds. Earlier, in October 2005, the company had issued 10 billion yuan worth of six-month bonds.
For the current one-year bonds, it has selected Bank of Communications as the chief underwriter. Its shareholders have authorised the company to issue up to another 20 billion yuan in bonds.
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