By Devika Patel
Knoxville, Tenn., Aug. 17 - Weichai Power Co., Ltd. said it sold RMB 1.3 billion in medium-term debentures on Aug. 24 and may sell up to RMB 2.7 billion of the securities.
The five-year debentures will be offered at par of RMB 100.
Proceeds will be used to repay certain bank loans and for the company's diesel engine project.
China Merchants Bank Co., Ltd. will lead a syndicate of underwriters for this deal.
Weichai Power is a Weifang, China, maker of diesel engines.
| Issuer: | Weichai Power Co., Ltd.
|
| Amount: | RMB 2.7 billion
|
| Issue: | Medium-term debentures
|
| Maturity: | Five years
|
| Underwriter: | China Merchants Bank Co., Ltd. (lead)
|
| Price: | Par of RMB 100
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 24 (for RMB 1.3 billion)
|
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