Volkswagen issues third panda bond

The Rmb2.5bn 2.0% notes are the German carmaker’s third onshore Renminbi bond issuance. The company told FA that the move is part of its funding diversification efforts.

German automaker Volkswagen completed the issuance of Rmb2.5 billion ($347 million) 2.0% medium-term notes on the China Interbank Bond Market (CIBM), also referred to as panda bonds, on May 28.

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