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Geely issues 2 billion RMB medium-term notes
Geely Automobile (00175) has announced the issuance of RMB 2 billion medium-term notes due in 2028. All proceeds will be allocated within China and used to supplement the liquidity of its subsidiary, Zhejiang Jirun Automobile.
Geely said that the fixed annual interest rate for the first year of the medium-term notes during their term is 1.55 per cent. The rate will be determined through centralized bookbuilding. The company has the right to adjust the coupon rate at the end of the first interest calculation year; after adjustment, the coupon rate will remain fixed for the second interest calculation year.