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By Market News Video Staff, Wednesday, November 24, 9:38 AM ET
Caterpillar (NYSE:CAT) is reportedly planning a 1 billion yuan bond issue in Hong Kong.
Several media outlets said Caterpillar had hired Goldman Sachs (NYSE:GS) to arrange the two-year bond issue.
A coupon rate has not yet been decided.
McDonald’s (NYSE:MCD) recently issued 200 million yuan in three year bonds, with a 3% coupon rate.
Caterpillar shares are trading up 1.5% Wednesday.
Caterpillar is in the top five holdings of the Industrial Select Sector SPDR Fund (AMEX:XLI), at 4.51% of the portfolio.
General Electric (NYSE:GE) is the top stock, at 10.16% of the fund, followed by United Technologies (UTX) at 5.81%. UPS (UPS) is 5.56% of the portfolio, and 3M (MMM) is 4.98% of the fund.
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