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Weichai to begin roadshow ahead of dollar-denominated bond offering
By Marisa Wong
Morgantown, W.Va., Sept. 15 – China’s Weichai Power Co. Ltd. said it will begin a series of roadshow presentations beginning on Thursday. The company has proposed an offering of dollar-denominated guaranteed bonds, according to a company announcement.
Barclays Bank plc, Hongkong and Shanghai Banking Corp. Ltd., Goldman Sachs (Asia) LLC and BOCI Asia Ltd. are the joint bookrunners and joint lead managers for the proposed Regulation S deal.
In July the company announced it was looking to issue bonds totaling €500 million, or the equivalent amount in dollars, through subsidiary Weichai International Hong Kong Energy Group Co.
The proceeds will be used to repay offshore bank borrowings related to the company’s acquisition of shares of KION Group AG, as well as for general working capital for offshore operations.
Weichai Power is a Weifang, China, maker of diesel engines.
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