Pangda plans to raise $594m via bond sale

Reading Time: < 1 minute

News like this to your inbox or phone?

Weekly summary to your inbox

Never miss and important news

Get Instant notification once the news is published.

Chinese car distributor Pangda plans to raise up to 3.8 billion yuan ($594 million) by issuing bonds, it said on Sept 16. The proceeds will be used to repay bank loans and to replenish its cash flow, it said in an exchange statement.

- Advertisement -

The plan is subject to regulatory approval, it said. In May, Pangda entered into an agreement worth 110 million euros ($152 million) with the owner of troubled Swedish carmaker Saab.

Via: ChinaDaily.

- Advertisement -
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -