By Melissa Kory
Cleveland, March 10 - China Yuchai International Ltd. announced that its subsidiary Guangxi Yuchai Machinery Co. Ltd. received approval from China's National Association of Financial Market Institutional Investors for the issuance of RMB 1.7 billion of short-term financing bonds.
The bonds will be issued in two tranches. The first tranche of RMB 1 billion of bonds due March 9, 2012 was issued on March 9. The bonds bear interest at 4.59% annually.
The second tranche of RMB 700 million of bonds will be issued at a later date.
The par value and issue price of each bond is RMB 100.
The lead underwriter and bookrunner for the first tranche was the Industrial and Commercial Bank of China.
The proceeds from the issuance are to be used as working capital.
China Yuchai, based in Singapore, manufactures diesel motors.
| Issuer: | China Yuchai International Ltd./Guangxi Yuchai Machinery Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | RMB 1 billion
|
| Maturity: | March 9, 2012
|
| Bookrunner: | Industrial and Commercial Bank of China
|
| Coupon: | 4.59%
|
| Price: | Par of RMB 100
|
| Yield: | 4.59%
|
| Pricing date: | March 9
|
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