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Geely issues US$300m in notes
Mainland car manufacturer Geely Automobile is issuing US$300 million in senior notes on the Hong Kong stock exchange.
It had applied to the stock exchange for permission to list and deal in the notes, due 2019, Geely said on Tuesday, and expected to receive permission the same day.
The notes will bear interest at the rate of 5.25 per cent a year, payable semi-annually.
Geely said late last month that the estimated net proceeds of about US$296 million would be used to refinance debt, expand its business and for other general corporate purposes.
Citi, Deutsche Bank and J.P. Morgan have been appointed joint global coordinators, joint book runners and joint lead managers for the issuance.
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