Guangzhou Automobile Group (02238) plans to apply for the issuance of corporate bonds not exceeding 15 billion yuan and 15 billion yuan of medium-term notes.

The Zhixun Finance APP reports that GAC Group (02238) announced that, in order to further broaden the company's financing channels, improve the debt structure, reduce financing costs, enhance the flexibility of the company's fund management, and guarantee the increasing demand for funds due to the expansion of production and operation scale, the board of directors has approved the company to issue corporate bonds with a total amount not exceeding RMB 15 billion (inclusive) in accordance with relevant laws and regulations, the company's articles of association, and actual circumstances.