Bonds News
- ZTE to issue bonds to fund new projects
Date: 21-Aug-2007 Sources: (Shenzhen Daily)
ZTE Corp., one of China's major telecom equipment manufacturers, said it plans to issue up to 4 billion yuan (US$526.4 million) in five-year detachable convertible bonds to fund the development of new products.
The firm said in a statement that it will hold a shareholder meeting Oct. 16 to vote on the plan, which the board has already approved. The Shenzhen-based firm will use the proceeds of the bonds to fund 11 new projects. Total investment in the projects is estimated at 10.7 billion yuan.
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