Unicom Red chips issue 1.8 billion US dollar convertible bonds

Unicom Red Chips announced 28th, through its wholly-owned subsidiaries successfully issued a total of 1.839 billion U.S. dollars (about 14.27 billion Hong Kong dollar) interest-bearing convertible bonds.　　China Unicom's current issue of the issuance of convertible bonds will be used for 3G and fixed network broadband construction and replenishment of the company's operating capital, thereby supporting the development of the company's business. The convertible bonds issued at parity, with a nominal interest rate of 0.75%, will be able to convert the initial share price of HK $15.85 (which can be adjusted) to China Unicom shares listed on the Hong Kong stock Exchange or China Unicom's depository receipts listed on the New York stock exchanges.　　The initial share price is equivalent to a 35.5% premium on the basis of the market value of the Hong Kong stock exchange of China Unicom on September 27, 2010.　　Chinese Unicom insiders said that China Unicom's current issue of the issuance of convertible bonds will be used for 3G and fixed-line broadband construction and replenishment of the company's operating capital, thereby supporting the company's business development. And China Unicom President Yimin September 28 also said that the company 3G formal commercial one year, has built the world's largest WCDMA network, basically covering the county-level cities, 3G users to break through tens of millions.　　The future will be in the existing mobile office, mobile phone editing, mobile phone futures and other industries to expand more industry applications. In the industry expansion, China Unicom has launched a smart bus, mobile phone network silver, mobile phone aviation, such as 19 3G industry application products. In addition, China Unicom on the same day for the first time to display the latest 3G mobile phone TV business. China Unicom Vice President Zhang Fan introduced, Unicom's 3G mobile phone TV business has been live channel 127 sets, on-demand program more than 200,000 minutes.