Dongfeng Motor to sell 2 bln yuan 1-year bills

Chinese automaker Dongfeng Motor Group Co. said Monday it plans to sell 2 billion yuan ($292.5 million) worth of one-year bills on the interbank market on June 15.

The Wuhan-based company said in a statement it will use the proceeds to repay bank loans and supplement working capital.

China Citic Bank Corp. and China Construction Bank Corp. are the deal's main underwriters, Dongfeng Motor said.