Chinese luxury auto dealers China Zhengtong Auto Services Holdings Ltd and Baoxin Auto Group Ltd plan to sell their first US dollar-denominated bonds this week, according to people familiar with the transactions.

Both companies are marketing five-year bonds to yield in the high 11 percent area, two people with knowledge of the respective deals said, asking not to be identified because the details are private.

Zhengtong Auto, which sells BMW and Jaguar cars, plans to offer as much as $300 million in notes, one of the people said.??

China Daily - Agencies