BMW eyes up to 3.5 billion yuan panda bond, term sheet shows

BMW Group BMW is eyeing an up to 3.5 billion Chinese yuan ($487.95 million) panda bond, according to a term sheet.

The car maker is proposing a one-year commercial paper issuance worth at least 1.5 billion yuan with a maximum size of 2 billion yuan, the term sheet seen by Reuters on Wednesday showed.

It is also working on a three-year medium term note worth 1.5 billion yuan, according to the term sheet.

($1 = 7.1729 Chinese yuan renminbi)