China's Great Wall Motor Considers $1 Billion Convertible Bond Sale [Yahoo! Finance Canada]
GREAT WALL MOTOR CO ADR (GWLLY)
NASDAQ:AMEX Investor Relations:
gwm-global.com/investor-relations/announcement.html
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Source: Yahoo! Finance Canada
(Bloomberg) -- Chinese carmaker Great Wall Motor Co. is considering a convertible bond offering to raise as much as $1 billion, according to people familiar with the matter. Most Read from Bloomberg The company, one of the largest independent auto manufacturers in China, has held early discussions with advisers about the potential sale, the people said, asking not to be identified as the information isn't public. Deliberations are preliminary and Great Wall Motor may decide against an offering, the people said. The company didn't respond to a request for comment. Great Wall Motor would join a growing number of Chinese companies that have sold convertible bonds this year to get cheaper financing than through traditional debt, given higher borrowing costs. They have been especially popular in the tech sector — Alibaba Group Holding Ltd. sold a record $5 billion convertible bond in May — but companies in other areas have resorted to the instrument as well. Ping An Insurance (G
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