Dongfeng Motor to issue 3-year notes
Dongfeng Motor Group Co Ltd, the largest listed automobile company in China, announced Thursday that it will issue RMB 3 billion in three-year notes on the interbank market on Sep. 17.
The company said in a statement that this batch of notes will be issued at face value and that the coupon rate will be determined during the process of book building.
The notes will become tradable on Sep. 22. The proceeds from the issuance will be used to replenish working capital, optimize financial structure and lower financing costs, according to the company.
China Chengxin Credit Rating Co has rated the notes and the issuer AAA and AAA, respectively.
Industrial and Commercial Bank China and China CITIC Bank<601998><0998> have been assigned as the main underwriters for the sale.
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