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Geely Auto to issue RMB 1.5 bln MTN

Oct. 29, 2012 (China Knowledge) - Zhejiang Geely Holding Group Co Ltd<0175>, the listed unit of China's largest privately-owned carmaker, has announced it will issue RMB 1.5 billion in medium-term notes with a maturity of three years in the interbank market on Nov 2.

The company said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building.

Both value and payment due date is set on Nov 6, and the to-be-issued notes tradable Nov 7.

All the proceeds from the issue will be used to replenish working capital, said the issuer.

Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and notes AA+ and AA+, respectively.

China CITIC Bank Corp<601998><0998> has been hired as lead underwriter and bookrunner. Industrial Bank Co Ltd<601166> will be the joint lead underwriter for the offering.

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