UPS Sells 630 Million Yuan Commercial Paper for China Projects

United Parcel Service Inc. (UPS) raised 630 million yuan ($99 million) in a commercial paper sale denominated in the Chinese currency, according to a statement from the company.

The short-dated, offshore yuan money market was “an alternative means for funding investments in China,” Andy Dolny, UPS’s treasurer said in the press release today. The sale took place on June 15, it said.

To contact the reporter on this story: Fion Li in Hong Kong at fli59@bloomberg.net

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

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