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China Tower Issues ABN, Raised CNY 5 Billion

26 Dec 2016 - China Tower,ABN
China Tower issued first ABN (Asset-Backed Medium-term Notes) recently, relying on the receivables of China's 3 major operators.

China Merchants Bank is the lead underwriter of the ABN. The Tower Company raised CNY 5 Billion by selling 1-year ABN that pays 2.86 percent a year, which shows the capital market's positive view of China Tower.

It is the first central enterprise asset-backed medium-term notes in China.

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