CDB Increases ZTE Credit Line to USD 20 Bln
ZTE, 12/04/12
Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) today announced that the company has entered into a new strategic partnership agreement with China Development Bank (CDB) to deepen business cooperation between the two companies.
Under the new agreement, CDB will expand its financing facility for ZTE to USD 20 bln. In 2005, CDB and ZTE began their strategic cooperation, agreeing on a facility of USD 8 bln. In 2009, the facility was increased to USD 15 bln.
Editor's Note: For more background on this topic, please see "ZTE to Receive USD 15 Bln Bank Credit" MD 3/20/09 issue.
Keywords: financing telecom 000063.SZ 0763.HK telecom equipment ZTE China Development Bank
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