Chinese carmaker Geely Automotive plans to issue convertible bonds and warrants worth US$250 million – but the company claims the move is not linked to its interest in buying Ford’s Volvo unit, Reuters reported. Billionaire Li Shufu, the founder of China’s biggest private car manufacturing company, expressed an interest in buying Volvo earlier this month to help the company meet its target of generating 66% of car sales from overseas by 2015. But an unnamed Geely executive told China Business News that the offering of bonds and warrants was not conntected to a deal with Ford. "The size of the bond and warrant issue is too small, not enough compared with what will be needed for the Volvo takeover," the executive said.
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