Caterpillar Financial Services Corp. (CAT1) started marketing its third offshore yuan-denominated bond, according to a person familiar with the matter and data compiled by Bloomberg.
The two-year note is being marketed at a yield in the low 3 percent area, the person said, asking not to be identified because the details are private.
Caterpillar last raised money selling so-called Dim Sum bonds when it issued 2.3 billion yuan ($364 million) of 1.35 percent, two-year securities in July. The company’s parent is Peoria, Illinois-based Caterpillar Inc. (CAT), the world’s largest manufacturer of construction and mining equipment, according to its website.
Jim Dugan, a spokesman at Caterpillar in Illinois, wasn’t immediately available to comment on the new bond sale when contacted by e-mail outside of normal business hours.
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