CAT Caterpillar Inc

   By Carol Chan 
 

U.S. construction equipment maker Caterpillar Inc. (CAT) is planning a three-year offshore yuan bond issue and has set the price guidance to yield around 3.65%, according to a term sheet seen Wednesday by The Wall Street Journal.

The company plans to price the benchmark-sized yuan bond issue as early as Wednesday, the term sheet said. Benchmark-sized bonds typically raise at least 500 million yuan ($81.7 million).

Caterpillar has hired HSBC Holdings PLC, ICBC Asia and Mitsubishi UFJ Financial Group as joint lead managers for the so-called dim sum bond issue, the term sheet said.

Write to Carol Chan at carol.chan@wsj.com

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