CATL to issue up to 10 billion yuan bonds

CATL (3750) said it plans to issue up to 10 billion yuan (HK$11 billion) of corporate bonds to satisfy the needs of production, operation and business development.

The term of the debts will not be longer than five years, depending on the actual funding needs and market conditions at the time of issuance, battery giant said in a filing on Wednesday. 

The bond can be a single-term product or a combination of multiple-term products, it said, adding that the proceeds will be primarily used for project construction, supplementing working capital, repaying interest-bearing liabilities.