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.
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