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  1. #1
    Senior Member AirborneSapper7's Avatar
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    Caterpillar Issues First Note in Chinese Currency

    Caterpillar Issues First Note in Chinese Currency

    Wednesday, 24 Nov 2010 12:45 PM

    A finance subsidiary of heavy machinery maker Caterpillar Inc. will issue its first-ever medium-term note that is denominated in the Chinese currency, the yuan.

    Caterpillar Financial Services Corp. said Wednesday that the issuance was conducted in Hong Kong for institutional investors and totaled 1 billion yuan, or about $150 million. The issuance is at a coupon rate of 2 percent, maturing in December 2012.

    Cat Financial said its transaction is one of the first yuan-denominated issuances of this size by a multinational company. The company will use proceeds from the deal to fund Cat Financial as it provides competitive financing options for Caterpillar customers in China through its subsidiary, Caterpillar (China) Financial Leasing Co.

    http://www.moneynews.com/Companies/cate ... /id/378078
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  2. #2
    Senior Member Justthatguy's Avatar
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    And if the value of the yuan goes down by 12% the owner of the note gets no interest and loses 10% of the principal. But the opposite could happen.

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