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China Telecommunications to issue 4 bln in bills

Feb. 7, 2012 (China Knowledge) - China Telecommunications Corp, the parent company of China Telecom Co Ltd<0728>, the nation's largest fixed-line operator, has said that it would issue RMB 4 billion in unsecured bills with a maturity of 366 days on the inter-bank market on February 14.

The firm said in a statement that the bills will be issued at face value, and the coupon rate will be determined during the process of bookbuilding.

Both value date and payment due date is set at February 15, and the to-be-issued bills are tradable on February 16.
China Chengxin International Credit Rating Co Ltd has rated the bills and the issuer A-1 and AAA, respectively.

China CITIC Bank Corp<601998><0998> has been hired as lead underwriter for the offering and Agricultural Bank of China Ltd or ABC<601288><1288> will be joint lead underwriter.

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