Daimler issued a corporate bond in China for the first time on Friday, allowing it to tap into an additional source of finance for its growing China business. It is the first foreign company to issue a bond with a volume of CNY500m (US$81.2m) and a maturity of one year.
“We are pleased to have created a new financing instrument, together with the Chinese authorities, that fulfils the international standards,” said finance head Bodo Uebber.
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“Together with the Bank of China and supported by the Chinese financial supervisory authority, Daimler has thus tapped into an important source of financing in the Chinese capital market.
“We are pioneers with this bond issue, and at the same time are helping to open up the Chinese capital market for international issuers,” added Uebber. The bond met with strong demand and was broadly placed in the Chinese capital market.
