Hitachi turns onshore for Rmb

02 May 2012

Hitachi Construction Machinery (China), the mainland subsidiary of the Japanese manufacturer, has closed its first loan in mainland China, raising Rmb2bn ($317.5m) from a three year deal.

The company chose to turn to mainland lenders rather than attempting to close a renminbi loan in the offshore market, despite the recent success of E-Land Fashion China Holdings, a subsidiary of another South Korean company, which closed a renminbi tranche as part of a dual currency loan ...

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