Chinese telecoms equipment vendor ZTE has received regulatory approval to issue up to Yn6bn (US$942.7m) in bonds.
In a statement with the Hong Kong Stock Exchange today, the company said that the bonds would be issued in several tranches. The first …
Chinese telecoms equipment vendor ZTE has received regulatory approval to issue up to Yn6bn (US$942.7m) in bonds.
In a statement with the Hong Kong Stock Exchange today, the company said that the bonds would be issued in several tranches. The first tranche will represent no less than half of the total nominal value of the issue and will be offered within the next six months.
The remaining tranches will be issued within the next two years.
ZTE and its competitor Huawei have recently been suspected of receiving illegal subsidies from the Chinese government, according to recent reports. Both vendors have denied the allegations.
