China Unicom, the country’s second largest mobile phone operator, has completed the issue of the second tranche of a super and short-term commercial paper for 2012, amounting to Yn15bn (US$2.36bn).
The paper has a maturity period of 60 days at an…
China Unicom, the country’s second largest mobile phone operator, has completed the issue of the second tranche of a super and short-term commercial paper for 2012, amounting to Yn15bn (US$2.36bn).
The paper has a maturity period of 60 days at an annual interest rate of 3.7%. The company said that interests started accruing on 28 August.
In mid-July, Unicom had completed the issue of the first tranche of commercial paper, also at Yn15bn. This commercial paper has a 365-day maturity period and an annual interest rate of 3.45%. Interests started accruing on 12 July.
A month ago, Telefonica completed the sale of a 4.56% stake in Unicom to the Chinese company’s parent for HK$10.748bn (US$1.386bn).
The Spanish telco retains a 5.01% stake in China Unicom and has said it remains fully committed to its strategic agreement with the company.
