Chinese banks to win Dongfeng’s $400m deal
Dongfeng Yueda Kia Motor is close to mandating banks for its $400m loan. Four or five Chinese banks are in the running after pitching with margins in the low 100bp range.
The company, a collaboration between Dongfeng Motor Corp, Jiangsu Yeuda and Kia Motors, sent out a request for proposal to banks at the end of March and received pitches from a large group of lenders, according to a banker.
Talk in the market suggests that the big four ...