Weichai Power (02338) issued an announcement to reasonably avoid the risks caused by fluctuations in exchange rates and interest rates on debt repayment and exchange losses...
According to the announcement of Weichai Power (02338) on the Zhichong Financial APP, in order to reasonably avoid the risks caused by fluctuations in exchange rates and interest rates on debt repayment and exchange gains and losses, Weichai Power (Luxembourg) Holding S.àr.l., a wholly-owned subsidiary of Weichai Power, and WEICHAI SINGAPORE PTE. LTD. intend to conduct foreign exchange derivative trading business with banks and other financial institutions overseas. Weichai Luxembourg intends to carry out currency swaps and interest rate swaps with banks and other financial institutions, involving a loan principal not exceeding 0.53 billion euros equivalent to RMB. Weichai Singapore intends to conduct forward foreign exchange and foreign exchange options derivative trading business with banks and other financial institutions, with a quota not exceeding US$60 million equivalent.