China Unicom, the country’s second largest mobile phone operator, said it has completed the issue of the first tranche of commercial paper for 2012.
This issue amounts to Yn15bn (US$2.35bn). The commercial paper has a 365-day maturity period and an…
China Unicom, the country’s second largest mobile phone operator, said it has completed the issue of the first tranche of commercial paper for 2012.
This issue amounts to Yn15bn (US$2.35bn). The commercial paper has a 365-day maturity period and an annual interest rate of 3.45%. Interests started accruing on 12 July.
China Unicom is majority state-owned. In early June, Spanish telecoms giant Telefonica sold a 4.56% stake in Unicom back to the Chinese company for HK$10.96bn (US$1.4bn).
The deal, which is subject to regulatory approval, is expected to be completed by 31 July 2012. Following the share sale, Telefonica will be left with a 5.01% stake in Unicom.
