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Volkswagen's Dim Sum debt
May 20, 2011, Friday
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Print Edition
Print Edition
VOLKSWAGEN AG is borrowing yuan in Hong Kong's dim sum bond market at about half the cost paid by smaller rivals in China, helping extend its dominance of the world's largest auto market.
The German carmaker on May 16 raised 1.5 billion yuan (US$231 million) selling five-year notes in Hong Kong to yield 2.15 percent. Beijing Automotive Industry Holding Co, China's fifth-biggest producer, sold 400 million yuan of similar-maturity debt onshore last month to yield 5.26 percent.
The German carmaker on May 16 raised 1.5 billion yuan (US$231 million) selling five-year notes in Hong Kong to yield 2.15 percent. Beijing Automotive Industry Holding Co, China's fifth-biggest producer, sold 400 million yuan of similar-maturity debt onshore last month to yield 5.26 percent.
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