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UPS Sells 630 Million Yuan Commercial Paper for China Projects

United Parcel Service Inc. 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.

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