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Pang Da To Raise $594M In Debt Issue

Pang Da is seeking to raise $594 million through a sale bonds.

Pang Da is seeking to raise $594 million through a sale bonds, Reuters reports. The Chinese car distributor intends to use the net proceeds to repay bank loans and to replenish its cash flow.

The offering is subject to regulatory approval. In May, Pang Da struck a deal worth $152 million with the owner of Swedish carmaker Saab.

Click here for the story from Reuters.

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