Wed 02/24/2021 04:11 AM
Shanghai-listed auto dealer China Grand Automotive Services Group, or CGA, has mandated Pacific Securities as lead underwriter to issue new bonds in March or April with proceeds to be used to repay its RMB 1.934 billion ($2.994 billion) onshore bond maturities this year, according to two sources briefed by the company.
CGA has an RMB 1 billion bond issuance quota. Terms of the proposed issuance are yet to be determined, according to the sources.
The company plans to cover its onshore bond...
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