October 20, 2015 / 1:50 AM / 2 years ago

Dongfeng Motor opens books for euro bonds

HONG KONG, Oct 20 (IFR) - Dongfeng Motor (Hong Kong) International Co is marketing a three-year euro-denominated benchmark at initial price thoughts in the 170bp area over mid-swaps.

The notes are expected to be rated A1/A/A, on par with guarantor Dongfeng Motor Group.

The proceeds will be used to refinance a euro loan that will be used to repay a bridge loan, and for general corporate purposes.

Bank of China, BNP Paribas, Deutsche Bank, HSBC and SG CIB are joint global coordinators and bookrunners.

Bocom HK, CCBI, ICBC (Asia) and SPDB HK are bookrunners. (Reporting by Frances Yoon; Editing by Vincent Baby and Daniel Stanton)

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