To: Business Editor
[For immediate release]
BAOXIN AUTO GROUP LIMITED
寶信汽車集團有限公司
Baoxin Auto Successfully Signed and Closed Loan at USD 242m
[7th August 2015, Hong Kong] Baoxin Auto Group Limited ("Baoxin Auto" or the "Company" and, together with its subsidiaries, the "Group", Stock Code: 1293.HK), a leading luxury 4S dealership group in China, is pleased to announce that it has signed and closed on the issuance of a US$242 million 3-year term loan on 6th August 2015. It carries a margin of +3.70% over LIBOR and has been upsized from its original USD 150m target at launched on 22nd June 2015. The Global Coordinator, Mandated Lead Arrangers and Bookrunner (MLAB) for the Facility, Standard Chartered Bank (Hong Kong) Limited, and 9 additional international and regional banks participated in the transaction. The funds will be used for refinancing and general corporate purpose.
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About Baoxin Auto Group Limited
Baoxin Auto is a leading 4S dealership group in China, principally engaged in sales and services of luxury and ultra-luxury branded automobiles. The Group offers a comprehensive range of automobile-related sales and services including sale of new automobiles, automobile maintenance and repair services, sales of automobile accessories and other automobile-related products, automobile customization and styling services. All of the 4S dealership stores are strategically located in populous and affluent regions in China with rapidly growing local economies, including Beijing, Shanghai, Tianjin, Jiangsu, Zhejiang, Shandong, Liaoning and Guangdong. Baoxin Auto's strong brand portfolio includes luxury and ultra-luxury brands such as Land Rover & Jaguar, BMW, MINI, Audi, Porche, Ferrari, Maserati, Volvo, Cadillac and GMC, and other popular mid-to-upper market brands, such as Buick, Toyota, Honda, Nissan, Volkswagen, Chevrolet and Hyundai.
Issued by Porda Havas International Finance Communications Group for and on behalf of Baoxin Auto Group Limited. For further information, please contact:
Porda Havas International Finance Communications Group
Paul Sham Phone: +852 3150-6730 paul.sham@pordahavas.com
Susan Chen Phone: +852 3150-6733 susan.chen@pordahavas.com
Rachel Liu Phone: +852 3150-6767 rachel.liu@pordahavas.com
Jenny Kun Phone: +852 3150-6701 jenny.kun@pordahavas.com
Fax: +852 3150-6728
