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Tietong to Issue Bonds.
(From SinoCast China IT Watch)
SHENZHEN, August 29, 2006, SinoCast -- China TieTong Telecommunications Corporation, one of the three fixed line telephone carriers in China's mainland along with China Telecom and China Netcom, plans to issue a one-year-term bond worth CNY 2 billion on August 30.
The funds raised will be used to build telecommunications networks in the country, regional networks and special networks for railway telecommunications, the company said.
Bank loans are now the major source of Tietong's short-term cashflow, and the company said a bond issue would help reduce financing costs.
The bond, underwritten by the Bank of …
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