CCIC Finance is due to conclude a US$60 million term loan facility today for Beijing Jinghua Trust and Investment Corp (BJTIC) to help boost the capital's mobile phone network.
The proceeds of the loan will be channelled into providing part financing for Beijing CATCH Communication Technology's cellular mobile telephone and second-generation cordless telephone projects.
CATCH was incorporated by Beijing's municipal government in May 1992 to develop and modernise the city's telecommunications systems, under the administration of the Beijing Technology Committee.
The BJTIC loan will be provided by an international syndication comprising 14 international financial institutions, brought together by CCIC Finance.
The lead managers for the loan are the Hong Kong branches of the Berliner Handels-und Frankfurter Bank and Credit Lyonnais, the Tianjin branch of Hongkong and Shanghai Banking Corp, and Korea Merchant Banking Corp.
BJTIC is a state-owned financial institution under the administrative control of the Beijing Municipal People's Government and supervised by the People's Bank of China.
