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China's Geely plans to issue $154m 7 year bond

From Reuters| June 07 , 2011 13:32 BJT

Reuters (Beijing) - Zhejiang Geely Holding Group, the owner of Volvo Car, plans to issue 1 billion yuan ($154 million) in a seven-year corporate bond, sources said on Tuesday.

"The bond may be issued at the inter-bank market and the Shanghai Stock Exchange simultaneously," a person with knowledge of the matter told Reuters.

The financial terms of the bond were not available.

Geely, the parent of Geely Automobile Holdings , took over Ford Motor's Volvo car business in August 2010.

It had subsequently unveiled a $10-11 billion global expansion plan for Volvo, including a car manufacturing plant in the southwestern Chinese city of Chengdu.

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