By Marisa Wong
Madison, Wis., Feb. 27 - Chaowei Power Holdings Ltd.'s subsidiary, Chaowei Power Co., Ltd., issued RMB 400 million of short-term financing notes on Tuesday, according to a company announcement.
The 365-day notes have a fixed coupon of 4.9%.
ICBC Ltd. is the bookrunner.
According to a previous announcement, this is Chaowei's first tranche of short-term financing notes. The company had registered to issue RMB 800 million of notes with China's National Association of Financial Market Institutional Investors.
Proceeds will be used for general working capital.
Based in Changxing, Zhejiang, China, Chaowei is a motive battery manufacturer operating in the electric bike market in China.
| Issuer: | Chaowei Power Co., Ltd.
|
| Issue: | Short-term financing notes
|
| Amount: | RMB 400 million
|
| Maturity: | 365 days
|
| Coupon: | 4.9%
|
| Bookrunner: | ICBC Ltd.
|
| Settlement date: | Feb. 26
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
