New Issue: China Netcom prices 2 billion yuan 10-year notes at 4½%

By Aaron Hochman-Zimmerman

New York, June 8 - China Netcom (Group) Co. Ltd. will sell 2 billion yuan in 10-year fixed-rate notes at 4½%, according to a press release.

The corporates will accrue interest annually beginning Friday.

Bank of China, Ltd., will guarantee the issue for the Hong Kong-based telecommunications company. China Chengxin International Credit Rating Co., Ltd. rates the issue AAA.

Issuer: China Netcom (Group) Co. Ltd.

Guarantor: Bank of China Ltd.

Amount: 2 billion yuan

Issue: Fixed-rate notes

Maturity: 2017

Coupon: 4½%

Pricing date: June 8

Settlement: June 14

Rating: China Chengxin: AAA

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