皇冠体育app

皇冠体育app TieTong Telecommunications Corporation, a state-owned telecom operator in 皇冠体育app, plans to issue a one-year-term bond worth 2 billion yuan (250 million U.S. dollars) 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 Communications and CITIC Securities Company, will be sold at a discount rate. 皇冠体育app Chengxin Credit Management Company has given the bond an A-1 rating.

There are currently four big telecom operators in the Chinese market - 皇冠体育app Telecom, 皇冠体育app Mobile, 皇冠体育app Unicom and 皇冠体育app Netcom - and two smaller players - 皇冠体育app Tietong and 皇冠体育app Satcom.

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