BYD Company (01211.HK) announced that the China Securities Regulatory Commission (CSRC) has approved its proposed issue of domestic corporate bonds in an aggregate principal amount of not more than RMB6 billion to the public in the PRC.

The domestic corporate bonds will be issued in multiple tranches, with the first tranche in an amount of not less than 50% of the aggregate principal amount of the domestic corporate bonds to be issued within six months from the date of approval of the issue and the other tranches to be issued within 24 months from the date of approval of the issue. The approval will be valid for 24 months from the date of approval of the issue.