FAW Group Corp, one of China's largest automotive groups, announced it will issue RMB 10 billion medium-term notes with a maturity of five years on the interbank market on Mar. 9, market sources reported.
However, there is no detailed information on how the proceeds from the issuance will be used.

China Cheng Xin International Credit Rating Co Ltd has rated the issuer and the notes AAA and AAA, respectively.

Industrial and Commercial Bank of China (ICBC)<601398><1398> has been assigned as major underwriter for the sale.

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