China's Chaowei Power eyes renminbi-denominated bond offering

By Aleesia Forni

Columbus, Ohio, March 14 - Chaowei Power Holdings Ltd. expects to offer renminbi-denominated bonds subject to market conditions and investor interest, according to a press release.

The Cayman Islands-incorporated company intends to use the proceeds of the offering to fund future expansions of its production capabilities, including the construction and installation of additional production facilities in Zhejiang, Jiangxi and Henan provinces.

Nomura International plc is lead manager.

Based in Changxing County, Zhejiang Province, China, Chaowei is a motive battery manufacturer operating in the electric bike market in China.

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