Goldman Sachs buys CBs with warrants in Geely

Goldman Sachs will pay up to $334 million for convertible bonds with warrants that could give it a 15.1% stake in the auto company.

Goldman Sachs will invest up to HK$2.59 billion $334 million in convertible bonds with warrants of Hong Kong-listed Geely Automobile Holdings. Yesterday Geely released details of the proposed investment by Goldman Sachs in its equity, confirming a deal which has been speculated in newspapers since Monday.

Geely will raise up to HK$2.59 billion from the issue of convertible bonds with attached warrants, assuming all the warrants are exercised. Goldman Sachs will own 12.1% of Geely upon...

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