New Zealand Telecom forms issue plan of AU.$1.5b short and mid-term bills

New Zealand Telecom declared that it has entrusted the Australian Federal Bank to arrange a plan of issuing AU.$1.5 bln short and mid-term bills in a hope to develop its Australian subsidiary - AAPT Ltd. The company will carry out road show on August 22 for the bills project. The company was granted the A+ long-term credit rating and A1 short-term credit rating by S&P, while the outlook was confirmed as steady.

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