21 Dec 2009 10:59

China Telecom to issue $1.46 bln in medium term notes

Beijing. December 21. INTERFAX-CHINA - China Telecommunications Corp. (China Telecom) announced on Dec. 21 that it will issue RMB 10 billion ($1.46 billion) in five-year, medium-term notes to cover its operating expenses.

China Telecom plans to issue the notes on Dec. 28. The company currently has RMB 30 billion ($4.39 billion) in outstanding medium term notes.

China Telecom reported revenue of RMB 154.75 billion ($22.66 billion) and net profit of RMB 11.39 billion ($1.67 billion) over the first three quarters of 2009, according to the company's third quarter report.