Central bank allows firms to resume sale of medium-term notes
6 October 2008
China's central bank on Sunday allowed companies to resume selling medium-term notes on the country's Interbank Bond Market and said listed companies can use the proceeds to buy back shares, Bloomberg reported. Regulators had suspended approvals for sales of medium-term notes in June. Medium-term notes, or debt notes that are usually paid back within 5-10 years, are sold by most large companies for their medium-term financing needs. Coal, power, oil and transport companies will have the priority to sell the notes starting today, the People's Bank of China said.