Lenovo Group Ltd, announced that they have no plans to issue bonds in the near term. The decision of  Lenovo is based on the global market volatility

Lenovo CFO Wong Wai Ming said in a telephone intervier, "The debt market was actually in a turmoil probably a couple of weeks ago. So we are still observing the market, so when the market becomes stable, then we will decide on how to deal with this proposed bond issue. Obviously we are not in desperate need of cash in the short term."

The company is currently cash-rich. Lenovo has a free cash flow of around US$1.6 billion recorded at the end of 2012. The company does not need to raise funds for any large acquisition.

Lenovo hired Credit Suisse and Goldman Sachs as the joint global coordinators for the issue. Joint lead managers and bookrunners included BOC International, BNP Paribas, HSBC, The Royal Bank of Scotland, Mizuho Securities, and Standard Chartered.