BEIJING, May 24 (Xinhua) --Pangda Automobile Trade Co. announced that its overseas wholly-owned subsidiary planned to issue no more than 300 million U.S. dollars worth of offshore bonds, the Xinhua-run Shanghai Securities News reported on Wednesday.
According to the announcement, the raised funds will be used to supplement the company’s working capital and adjust its debt structure.
The company will provide an unconditional and irrevocable cross-border joint and several liability guarantees for these bonds.
(Edited by Yang Yifan, yangyifan@xinhua.org)
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