UPS Issues Commercial Paper Denominated in China's Renminbi
UPS (NYSE: UPS) has executed a commercial paper transaction denominated in the offshore Renminbi currency, creating a new financial vehicle to fund growth projects in China.
The issuance last Friday, known as a CNH-denominated commercial paper transaction, totaled CNH 630,000,000 and is the first by a foreign company outside the financial sector to be executed here.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.