Bloomberg News

GM China Joint Venture Plans Car Loan-Backed Notes, SCMP Says

March 04, 2012

The financing arm of General Motors Co. (GM)’s joint venture with Shanghai Automotive Industry Corp. Group will sell securities backed by car loans, the South China Morning Post reported today.

GMAC-SAIC Automotive Finance Co. will offer 2 billion yuan ($317 million) of the notes in the first half of the year, the newspaper said, citing two unidentified people familiar with the deal.

To contact the reporter on this story: Benjamin Garvey in Hong Kong at bgarvey8@bloomberg.net.

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net.


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