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HONG KONG, Aug 7, 2015 - (ACN Newswire) - Baoxin Auto Group Limited, 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. 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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