CHINA COMMUNICATIONS CONSTRUCTIONS CROUP has raised Rmb16bn (US$2.41bn) through the issue of six-year exchangeable bonds with A-shares of china communications construction company as underlying. The initial conversion price was set at Rmbl6.06, according to a banker on the deal. The conversion price represents a premium of 9.8% to the November 14 closing of Rmbl4.62. The coupon was set at 1%.
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