(2001年6月6日,上海) 今天, 上海通用汽车有限公司正式与以花旗银行和上汽财务公司为牵头行的15家银行成功地签订了等值于6亿美元的美元及人民币再融资协议。 其中包括1.6亿美元长期贷款和4.4亿美元的等值人民币流动资金贷款。 同时签署的还包括等值于1亿美元的人民币双边贷款。共有7家外资银行和8家中资银行参与了此次贷款。

此举是上海通用汽车成功运用金融手段, 积极降低资金利用成本, 提升企业综合竞争力的有力举措. 上海通用汽车副总裁兼CFO聂克诚先生认为: "再融资是国际通行的有效降低资金利用成本的金融手段. 成功签订再融资协议将有利于上海通用汽车的持续稳定的高速发展."

1998年8月上海通用汽车曾与39家中外资银行签署了8.21亿美元融资协议和1.68亿美元的等值人民币双边贷款，现仅提款2亿多美元。因此此次融资不仅是对现已提款部分的再融资, 而且作為一般企業融資, 此次融资还能带给上海通用汽车以下三项好处: 1.減低利率差距; 2.提高借貸條款的彈性; 3.形成較小規模的銀團以改善效率。

这次融资得到了银行方面积极而广泛的支持。许多银行都对上海通用汽车的实力和发展前景非常有信心, 因此对融资项目表示了浓厚兴趣。但上海通用汽车为了使银团规模更具效率化，最后决定了由15家银行组成银团。

上海通用汽车現在共生產三項主要汽車產品，即别克轿车系列, 别克GL-8商务公务旅行车及紧凑型家用轿车别克赛欧系列。 中國市場對"别克"品牌的认知度较高。在中國汽車行業中，"别克"是公認的最佳品牌之一。2000年度，上海通用汽车的總銷售量超过30,500台汽車，與1999年相比，升幅達54%。赛欧紧凑型轿车是最新系列產品，将於2001年6月投放市场。市場對赛欧的反應较佳。 展望未来，上海通用汽车將會通過進軍家庭（紧凑型）汽車市場而達到快速增長；同時亦會通過拓展產品種類，在中高檔轎車及公务商务旅行车市場中继续維持其優勢。


Shanghai GM Signs New Financing Agreement

Shanghai -- Shanghai GM signed today new financing agreements with a total value of $700 million to refinance existing debt and meet future project and working capital requirements. The agreements are comprised of a $600 million syndicated refinancing package and a $100 million bilateral facility.

The $600 million refinancing syndication includes a $160 million term debt facility in US dollars and a $440 million facility in renminbi for working capital requirements. It was led arranged by Citibank and the Shanghai Automotive Group Finance Company Ltd. (SAICFC). A total of seven foreign banks and eight Chinese banks participated in the syndicate.

Shanghai GM also signed a renminbi bilateral term loan valued at $100 million with SAICFC, the financing arm of GM's joint venture partner Shanghai Automotive Industry (Group) Corporation, or SAIC.

The new funding will be used to pay off existing debt and fund anticipated future borrowing requirements. In 1998, Shanghai GM raised the equivalent of $821 million in syndicated debt and the equivalent of $180 million in a bilateral loan with SAICFC. It was the largest deal of its kind at that time.

"With current financial market conditions and Shanghai GM's strong operating and financial performance over the past two years, we decided this was an optimal time to restructure Shanghai GM's borrowings," said Mark Newman, vice president and Chief Financial Officer of Shanghai GM.

"We have worked closely with Citibank, SAICFC and all fifteen financial institutions invited to participate in this financing agreement to establish more competitive pricing and lending terms for Shanghai GM," Newman added. "This will help Shanghai GM improve its competitiveness, which in turn will ultimately benefit our customers."

Since the end of 1998, when Shanghai GM rolled out its first Buick sedan, the company has launched three distinct models onto the market. In the process, it has set a Chinese industry record for the speed of the introduction of new products.

The $1.52 billion, 50-50 joint venture between General Motors and SAIC sold more than 30,000 Buick sedans and GL8 executive wagons in 2000. Deliveries of the Buick Sail, the first modern compact sedan manufactured in China and Shanghai GM's third model, will begin in two days. Shanghai GM has been profitable in each of its first two years of operation since it commenced production in 1999.