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CNPC to solar air conditioner issue China's first dollar-bond
CNPC to solar air conditioner issue China's first dollar-bond
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CNPC to issue China's first dollar-bondPublished: 20 Apr 2009 20:10:39 PST<p class="authorInfor"]</p]<!--begin CK content--]<P]Apr. 21, 2009 (China Knowledge) - China National Petroleum Corp (CNPC), the parent of PetroChina<601857><857>, will soon issue, on the interbank market, a three-year floating-rate bond worth US$1 billion, the country's first dollar-bond issued by a non-financial institution, sources reported. </P]<P]The National Association of Financial Market Institutional Investors (NAFMII) will permit an issuance of up to US$3 billion. </P]<P]One industry insider said the dollar-bond issuance will be good for reducing the enterprise's financing cost. Meanwhile, the bond will prevent the risks arising from fluctuations in the dollar exchange rate. </P]<P]Up to now, only financial institutions such as China Development Bank and the Export-Import Bank of China have issued dollar-denominated bonds, sources said.<BR]</P] Copyright © 2009 www.chinaknowledge.com
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