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ZTE Crop. grosses 6.00 billion yuan from debt offering

ZTE Corp. raised gross proceeds of 6.00 billion yuan from an offering of perpetual medium term notes.

The company plans to use the proceeds for general corporate purposes or working capital and redemption or repayment of debt securities.

China Merchants Bank Co. Ltd. was the lead underwriter.

As of Jan. 27, US$1 was equivalent to 6.24 yuan.