State-owned Beijing Enterprises has raised $1 billion through a two-part sale of bonds, FinanceAsia reports. The first tranche of $600 million notes, mature in 10-years, while the second part of the $400 million notes mature in 30 years.
The bonds were issued by Mega Advance Investments and a BVI subsidiary. The sale proceeds will be used to invest in infrastructure and public utilities in Beijing. Bank of America-Merrill Lynch, HSBC and Morgan Stanley served as global coordinators.
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