China Yuchai Closes s$50 Million Loan

(Comment on this article at http://www.financialwire.net/2009/09/03/china-yuchai-closes-s50-million-loan/)

September 3, 2009 (FinancialWire) -- China Yuchai International Ltd. (NYSE: CYD) said it has entered into a new short-term loan agreement for up to S$50 million for a 12 months duration, with DBS Bank Ltd., of Singapore.

The purpose of the loan is to re-finance China Yuchai's existing bridging credit facility with DBS, which is due to expire shortly. The new facility will be used to finance the company's long-term general working capital requirements.

Singapore-based China Yuchai International engages in the manufacture, assembly, and sale of a range of light-duty, medium-sized and heavy-duty diesel engines for construction equipment, trucks, buses, and cars in China through its Guangxi Yuchai Machinery co. subsidiary.

GYMCL also produces diesel power generators, which are primarily used in the construction and mining industries.

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