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* Lenovo has no immediate plans to issue bonds due touncertain markets, ample cash
* Awaits market to become more stable before considering theproposed issue
SINGAPORE, July 11 (Reuters) - Lenovo Group Ltd,the world's top PC vendor, has no plans to issue bonds in thenear term because it has sufficient cash in hand and because ofthe volatility in global markets, its chief financial officersaid.
Lenovo, which has been acquiring companies over the past fewyears to consolidate its market position, conducted roadshows inHong Kong, Singapore and London in June, prompting expectationsit would soon tap the market for its firstU.S-dollar-denominated note issue.
"The debt market was actually in a turmoil probably a coupleof weeks ago," CFO Wong Wai Ming told Reuters in a telephoneinterview.
"So we are still observing the market, so when the marketbecomes stable, then we will decide on how to deal with thisproposed bond issue. Obviously we are not in desperate need ofcash in the short term."
The company is cash-rich, with free cash flow around $1.6billion at the end of 2012, but it would still need to raisefunds for any large acquisition.
Lenovo has hired Credit Suisse and Goldman Sachs as the joint global coordinators for the issue, ThomsonReuters publication IFR said.
IFR added that joint lead managers and bookrunners includedBNP Paribas, BOC International, HSBC , Mitsubishi UFJ Securities, Mizuho Securities, The Royal Bank of Scotland and StandardChartered.
Lenovo has spent billions of dollars over the past few yearsin acquisitions. Purchases include Brazilian electronics makerCCE last year, Germany's Medion AG in 2011 and IBMCorp's PC business in 2005.
There have been rumours in the market for the past year that Lenovo was interested in acquiring phone makers Nokia Oyj and BlackBerry as well as NEC Corp's mobile phone business and IBM's low-end servers.
Wong declined to name any acquisition targets.
"We continue to look at various opportunities that will workfor us," he said. "There are certain areas in both consumer, aswell as enterprise that we definitely consider as our growthareas."
