ZTE signs financing deal with China Development Bank

HONG KONG Tue Dec 4, 2012 4:55am EST

A ZTE company logo is seen at the company's exhibition pavilion during the CommunicAsia information and communications technology trade show in Singapore June 19, 2012. REUTERS/Tim Chong

A ZTE company logo is seen at the company's exhibition pavilion during the CommunicAsia information and communications technology trade show in Singapore June 19, 2012.

Credit: Reuters/Tim Chong

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HONG KONG (Reuters) - ZTE Corp, the world's No.5 telecom equipment maker, said on Tuesday it had signed a $20 billion financing agreement with Chinese policy bank China Development Bank (CDB).

"The principal terms of the agreement include the provision by CDB of a $20 billion facility for cooperation, comprising financing facilities for the company's overseas projects and credit facilities for the company," it said in filings to the Hong Kong and Shenzhen stock exchanges.

"The agreement forms the framework of business cooperation for an effective period of five years," ZTE said.

For the statement, please click here

(Reporting by Lee Chyen Yee; Editing by Anne Marie Roantree)

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