Already a Bloomberg.com user?
Sign in with the same account.
Caterpillar Financial Services Corp. (CAT1), a unit of the world’s largest construction and mining- equipment manufacturer, sold 1.26 billion yuan ($199 million) of two-year Dim Sum notes, according to a person familiar with the matter.
Caterpillar priced the yuan-denominated bonds sold in the Hong Kong markets to yield 2.9 percent, said the person, asking not to be identified because the details are private.
The Reg S notes were initially marketed to yield in the low 3 percent area, a different person said yesterday, also seeking not to be identified as the matter was private. Citigroup Inc. and Goldman Sachs Group Inc. were hired to arrange the sale, that person said.
Jim Dugan, a spokesman for parent Peoria, Illinois-based Caterpillar Inc. (CAT) declined to comment on the marketing of the bond when contacted by e-mail yesterday.
Caterpillar’s latest sale of Dim Sum bonds was a 2.3 billion yuan issue of 1.35 percent two-year securities in July. The company first offered Dim Sum notes in November 2011, with a 1 billion yuan of debt priced to yield 2 percent.
To contact the reporter on this story: Tanya Angerer in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Shelley Smith at email@example.com