The sale of the 86-year-old in-car systems maker marks a rare high-profile cross-border deal in Japan’s auto tech sector, positioning CarUX to expand its connected cockpit offering globally.
The bonds' five tranches raised HK$27bn, with the 30-year HKD infra bond being the longest tenor of a HKD-denominated government bond; the issuances are set to extend the HKD benchmark yield curve.
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.