CATIC to Issue 1Bn Yuan T-Bond for Raising Fund

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Last updated at: (Beijing Time) Friday, June 14, 2002

CATIC to Issue 1Bn Yuan T-Bond for Raising Fund

Approved by the State Council, China National Aero-Technology Import & Export CO. (CATIC) will issue some 1 billion yuan worth of treasure bond for the year 2002 on June 17.

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Approved by the State Council, China National Aero-Technology Import & Export CO. (CATIC) will issue some 1 billion yuan worth of treasure bond for the year 2002 on June 17.

Of CATIC's 1 billion yuan T-bond, 500 million are over three years with an annual interest rate of 3.5%. The remaining 500 million will be on a 7-year term with an annual interest rate of 4.05%.

The bond will be issued in Beijing, Shanghai and Dalian from June 17 to July 5. Fund collected from the bond will be mainly used for the K-8E plane export to Egypt.

Established in 1987, CATIC is a transnational group company integrating industry and technology with trade.

Its main business includes import and export of aviation products and mechanical and electrical products technology, labor services, equipment, machinery and material. CATIC has positioned itself in the front rank among China's One Hundred Best Foreign Trade Enterprises.

By the end of 1994, CATIC had developed into a huge group company with a total capital of more than RMB 10 billion. Its accumulated foreign currency earnings reached USD 6 billion. CATIC group has new 10 wholly owned domestic subsidiaries, and 6 specialty enterprises in Beijing. In addition, CATIC has 45 overseas branches and representative offices in 30 countries and regions.

It is the first time for the company to dabble in domestic treasure bond market, also the first time of raising fund from securities market.

By PD Online Staff Li Yan

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