It is reported that China Changan Automobile Group the parent of Chongqing Changan Automobile fixed the coupon rate of the CNY 1.5 billion worth of three-year MTNs it issued on March 28 at 4.88%.

The value date is March 30 and the MTNs will start trading tomorrow. Of the total funds raised CNY 1.05 billion will be used to repay the bank loans of CAG, Jiangxi Changhe, and Hafei Automobile.

The remaining CNY 450 million will be used for the operations of its auto and auto parts business.

(Sourced from yicai.com)