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Beiqi Fo voltage regulator ton Motor to issue up to RMB 1 bln bonds
Beiqi Fo voltage regulator ton Motor to issue up to RMB 1 bln bonds
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Beiqi Foton Motor to issue up to RMB 1 bln bondsPublished: 12 Nov 2008 02:05:50 PST
Nov. 12, 2008 (China Knowledge) - Beiqi Foton Motor Co. Ltd<600166>, the largest commercial vehicle producer in China, announced its board has agreed to issue up to RMB 1 billion (US$147 million) worth of corporate bonds in a bid to diversify the company's financing channels.
Proceeds of the five-year fixed-rate bonds will be used to repay bank loans and replenish working capital,
The automaker said in a statement filed with the Shanghai Stock Exchange that the yield for the bonds will be decided by the company and underwriters later.
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