Chinese telecoms equipment maker ZTE has received lead underwriter commitments from two banks to raise up to Yn9bn (US$1.45bn) in medium-term notes.
The debt will be issued in two tranches, according to a stock exchange filing.
China Merchants Bank has…
Chinese telecoms equipment maker ZTE has received lead underwriter commitments from two banks to raise up to Yn9bn (US$1.45bn) in medium-term notes.
The debt will be issued in two tranches, according to a stock exchange filing.
China Merchants Bank has registered to be lead underwriter for the Yn6bn (US$969m) tranche, while China Development Bank Corporation would be lead for the remaining Yn3bn (US$484.47m).
“The registration for the amounts under the aforesaid two notices of acceptance of registration will be effective for a period of two years from their respective issue dates of the notices, during which the company is allowed to issue the medium term note in tranches and the issue of the first tranche should be completed in two months immediately upon the registration,” stated the company.
